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We expect USDCAD to trend downwards today with a 71.43% chance.

We expect USDCAD to trend downwards later today. Based on these past Germany Balance of Trade news events there is a 71.43% chance of this. We expect this to happen if the released value is > €16.6B. A price movement of 10 pips is expected.

Historical events that allowed us to draw this conclusion

08 Jul 06:00
07 Jun 06:00
10 May 06:00
08 Apr 06:00
11 Mar 07:00

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

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