Based on past United States PPI MoM news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen because the released value is > 0.1%. A price movement of 24 pips is expected.
Historical events that allowed us to draw this conclusion
14 May 12:30 |
16 Feb 13:30 |
11 Oct 12:30 |
11 Aug 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
