We expect a $517.042 movement on USDCAD within the next 12 hours. We expect USDCAD to trend downwards 12 hours following the Markit Manufacturing PMI Flash events in Germany release because the released value is > 57. A price movement of 65 pips is expected.

Historical events that allowed us to draw this conclusion

16 Dec 19:30	23 Nov 19:30
23 Jul 17:30	23 Apr 17:30
24 Mar 19:30	19 Feb 19:30

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