We expect USDCAD to trend downwards later today. Based on these past United States ISM Manufacturing PMI news events there is a 75% chance of this. We expect this to happen if the released value is < 49.2. A price movement of 46 pips is expected. Historical events that allowed us to draw this conclusion
01 Nov 14:00 |
01 Oct 14:00 |
03 Sep 14:00 |
01 Aug 14:00 |
03 Jun 14:00 |
03 Jan 15:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
