Based on the last 12 Ifo Business Climate events in Germany, we expect a $2,032.705 movement on USDCAD within 48 hours following the event release at 25 Jan 20:00. We expect USDCAD to trend downwards 48 hours following the event release at 25 Jan 20:00 if the released value is < 91.8 Historical events that allowed us to draw this conclusion

24 Sep 18:00	24 Apr 18:00
25 Mar 20:00	27 Jan 20:00

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