Based on the last 12 Consumer Confidence Flash events in Euro Area, we expect USDCAD to trend upwards later today. Based on these past events there is a 71.43% chance of this. We expect USDCAD to trend upwards 4 hours following the event release at 21 Nov 02:00 if the released value is > -17.7. A price movement of 30 pips is expected.

Historical events that allowed us to draw this conclusion

23 Sep 00:00	21 May 00:00
24 Mar 02:00	21 Feb 02:00
22 Nov 02:00

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