We expect USDCAD to trend downwards right now.

Based on the last 12 Business Confidence events in Euro Area, we expect USDCAD to trend downwards right now. Based on these past events there is a 75% chance of this. We expect USDCAD to trend downwards for the next 48 hours because the released value is < 0.11. A price movement of 89 pips is expected. Historical events that allowed us to draw this conclusion

27 Jun 09:00

29 Apr 09:00

28 Mar 10:00

30 Jan 10:00

08 Jan 10:00

30 Oct 10:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).