Based on the last 12 Ifo Business Climate events in Germany, we expect USDCAD to trend upwards right now. Based on these past events there is a 71.43% chance of this. This may happen because the released value is > 92.2

Historical events that allowed us to draw this conclusion

24 Jun 18:00	24 Feb 20:00
25 Oct 19:00

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