Based on past Canada Ivey PMI s.a news events there is a 75% chance of USDCAD trending downwards. We expect this to happen because the released value is > 55. A price movement of 53 pips is expected.

Historical events that allowed us to draw this conclusion

08 Sep 00:00	08 Jun 00:00
05 Mar 02:00	05 Feb 02:00
08 Dec 02:00	08 Oct 01:00

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