Based on the last 12 ISM Non-Manufacturing PMI events in United States, we expect a 56 pip movement on USDCAD within 2 hours following the event release at 04 Aug 14:00 UTC. We expect USDCAD to trend downwards 2 hours following the event release at 04 Aug 14:00 UTC if the released value is < 60.5 Historical events that allowed us to draw this conclusion

05 May 14:00

03 Mar 15:00

03 Dec 15:00

04 Nov 15:00