Based on the last 12 Balance of Trade events in Germany, we expect a $267.872 movement on USDCAD within 2 hours following the event release at 09 Feb 18:00. We expect USDCAD to trend downwards 2 hours following the event release at 09 Feb 18:00 if the released value is > € 10.8B

Historical events that allowed us to draw this conclusion

09 Jun 16:00

09 Mar 18:00

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