Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect a 54 pip movement on USDCAD within 12 hours following the event release at 02 Mar 00:00 GMT+11. We expect USDCAD to trend downwards 12 hours following the event release at 02 Mar 00:00 GMT+11 if the released value is > 5.1%

Historical events that allowed us to draw this conclusion

01 Feb 00:00	07 Jan 00:00
28 Oct 23:00	29 Jul 22:00
31 May 22:00	29 Apr 22:00
02 Mar 00:00

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