We expect USDCAD to trend upwards later today. Based on these past Canada Ivey PMI s.a news events there is a 80% chance of this. We expect this to happen if the released value is > 55.2. A price movement of 112 pips is expected.
Historical events that allowed us to draw this conclusion
08 Jul 14:00 |
05 Jun 14:00 |
06 Mar 15:00 |
04 Oct 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
