Based on past United States Housing Starts news events there is a 71.43% chance of USDCAD trending upwards. We expect this to happen because the released value is < 1.445M. A price movement of 55 pips is expected. Historical events that allowed us to draw this conclusion

16 Jun 22:30	18 May 22:30
18 Feb 00:30	18 Nov 00:30
19 Oct 23:30

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