Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect a 53 pip movement on USDCAD within 4 hours following the event release at 02 Mar 00:00 GMT+11. We expect USDCAD to trend downwards 4 hours following the event release at 02 Mar 00:00 GMT+11 if the released value is > 1.2%

Historical events that allowed us to draw this conclusion

29 Jan 00:00	30 Oct 00:00
29 Apr 22:00

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