Based on the last 12 Ivey PMI s.a events in Canada, we expect a 53 pip movement on USDCAD within 12 hours following the event release at 2023-04-07 00:00. We expect USDCAD to trend downwards 12 hours following the event release at 2023-04-07 00:00 if the released value is > 56.1

Historical events that allowed us to draw this conclusion

07 Feb 02:00	07 Dec 02:00
08 Sep 00:00	08 Jun 00:00

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