Based on the last 12 Fed Interest Rate Decision events in United States, we expect USDCAD to trend downwards later today. Based on these past events there is a 72.73% chance of this. We expect USDCAD to trend downwards 12 hours following the event release at 2023-06-15 04:00 if the released value is = 5.25%. A price movement of 82 pips is expected.

Historical events that allowed us to draw this conclusion

04 May 04:00	23 Mar 05:00
02 Feb 06:00	15 Dec 06:00
28 Jul 04:00	05 May 04:00
17 Mar 05:00	16 Dec 06:00

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