Based on the last 12 Consumer Confidence events in Japan, we expect a $195 movement on USDCAD within 2 hours following the event release at 2022-12-01 16:00. We expect USDCAD to trend downwards 2 hours following the event release at 2022-12-01 16:00 if the released value is < 29.1 Historical events that allowed us to draw this conclusion

30 Sep 15:00	29 Jul 15:00
08 Apr 15:00	03 Mar 16:00
31 Jan 16:00	05 Jan 16:00

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