We expect USDCAD to trend downwards later today. Based on these past United States Durable Goods Orders MoM news events there is a 71.43% chance of this. We expect this to happen if the released value is < 0.6%. A price movement of 60 pips is expected. Historical events that allowed us to draw this conclusion
23 Dec 13:30 |
27 Oct 12:30 |
24 Aug 12:30 |
25 May 12:30 |
24 Mar 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
