Based on the last 12 Michigan Consumer Sentiment Prel events in United States, we expect a 57 pip movement on USDCAD within 12 hours following the event release at 16 May 00:00 GMT+10. We expect USDCAD to trend downwards 12 hours following the event release at 16 May 00:00 GMT+10 if the released value is > 68

Historical events that allowed us to draw this conclusion

14 Mar 01:00	15 Feb 02:00
14 Sep 00:00	18 May 00:00

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