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 28 Jul 22:30 GMT+10. We expect USDCAD to trend downwards 2 hours following the event release at 28 Jul 22:30 GMT+10 if the released value is < 3.2% Historical events that allowed us to draw this conclusion

21 Apr 22:30	17 Mar 23:30
21 Jan 00:30	19 Aug 22:30

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