Based on the last 12 Ifo Business Climate events in Germany, we expect USDCAD to trend downwards later today. Based on these past events there is a 85.71% chance of this. This may happen if the released value is < 87 Historical events that allowed us to draw this conclusion

25 Jul 18:00	24 Jun 18:00
25 Mar 20:00	24 Nov 20:00
24 Sep 18:00	25 Aug 18:00

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