Based on the last 12 Industrial Production YoY events in Euro Area, we expect USDCAD to trend downwards for the next 4 hours. Based on these past events there is a 80% chance of this. This may happen because the released value is < -0.9% Historical events that allowed us to draw this conclusion

15 Feb 21:00	12 Aug 19:00
14 Jul 19:00	13 May 19:00

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