Based on the last 12 Inflation Rate YoY events in Canada, we expect a 113 pip movement on USDCAD within 2 hours following the event release at 19 May 12:30 UTC. We expect USDCAD to trend downwards 2 hours following the event release at 19 May 12:30 UTC if the released value is < 3.2% Historical events that allowed us to draw this conclusion

21 Apr 12:30

17 Mar 12:30

20 Jan 13:30

19 Aug 12:30

20 May 12:30