We expect a $312 movement on USDCAD within 2 hours following the release of Michigan Consumer Sentiment Prel at 2022-11-12 02:00. We expect USDCAD to trend downwards 2 hours following the event release at 2022-11-12 02:00 if the released value is < 59.5. A price movement of 40 pips is expected. Historical events that allowed us to draw this conclusion

17 Sep 00:00	11 Jun 00:00
14 May 00:00	12 Feb 02:00
13 Nov 02:00

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