Based on the last 12 Industrial Production YoY events in Euro Area, we expect USDCAD to trend downwards right now. Based on these past events there is a 85.71% chance of this. This may happen because the released value is > 3.2%

Historical events that allowed us to draw this conclusion

12 Nov 21:00	13 Oct 20:00
15 Sep 19:00	12 Mar 21:00
13 Jan 21:00	14 Dec 21:00

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