Based on the last 12 ZEW Economic Sentiment Index events in Germany, we expect USDCAD to trend downwards later today. Based on these past events there is a 80% chance of this. We expect USDCAD to trend downwards 4 hours following the event release at 2023-06-13 19:00 if the released value is > -13.1. A price movement of 85 pips is expected.

Historical events that allowed us to draw this conclusion

17 Jan 21:00	13 Dec 21:00
15 Nov 21:00	18 Oct 20:00

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