Based on the last 12 Ifo Business Climate events in Germany, we expect USDCAD to trend upwards for the next 4 hours. Based on these past events there is a 75% chance of this. This may happen because the released value is < 97.8 Historical events that allowed us to draw this conclusion

25 Jan 20:00	26 Oct 20:00
24 Sep 18:00

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