Based on past Australia Westpac Consumer Confidence Index news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen because the released value is < 85. A price movement of 17 pips is expected. Historical events that allowed us to draw this conclusion

11 May 10:30	09 Mar 10:30
09 Feb 10:30	19 Jan 10:30
15 Dec 10:30	13 Oct 11:30

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