Based on the last 12 GDP Growth Rate QoQ events in Australia, we expect USDCAD to trend upwards later today. Based on these past events there is a 75% chance of this. We expect USDCAD to trend upwards 48 hours following the event release at 03 Jun 11:30 if the released value is > -0.3%. A price movement of 65 pips is expected.

Historical events that allowed us to draw this conclusion

04 Mar 11:30	06 Jun 11:30
07 Jun 11:30

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