Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a $496.887 movement on USDCAD within 4 hours following the event release at 23 Apr 17:30. We expect USDCAD to trend downwards 4 hours following the event release at 23 Apr 17:30 if the released value is > 65.8

Historical events that allowed us to draw this conclusion

24 Mar 19:30	19 Feb 19:30
23 Oct 18:30	23 Sep 17:30
24 Jul 17:30	23 Jun 17:30

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