Based on the last 12 Balance of Trade events in United States, we expect USDCAD to trend downwards. Based on these past events there is a 71.43% chance of this. We expect USDCAD to trend downwards for 48 hours because the released value is < $-70.5B. A price movement of 112 pips is expected. Historical events that allowed us to draw this conclusion

07 Apr 22:30	06 Mar 00:30
06 Feb 00:30	05 Nov 00:30
06 Oct 23:30

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