Based on the last 12 Ivey PMI s.a events in Canada, USDCAD could trend downwards later today. Based on these past events there is a 75% chance of this. If the released value is < 73.8 we could see USDCAD trend downwards 4 hours following the event release at 07 May 00:00. Historical events that allowed us to draw this conclusion

08 Jan 02:00	05 Jun 00:00
08 May 00:00

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