We expect USDCAD to trend downwards for the next 2 hours. Based on these past United States ISM Manufacturing PMI news events there is a 75% chance of this. We expect this to happen because the released value is < 47. A price movement of 81 pips is expected. Historical events that allowed us to draw this conclusion
01 Jun 14:00 |
03 Apr 14:00 |
01 Mar 15:00 |
04 Jan 15:00 |
03 Oct 14:00 |
01 Jul 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
