Based on past Canada GDP Growth Rate QoQ news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen because the released value is > 0.5%. A price movement of 229 pips is expected.

Historical events that allowed us to draw this conclusion

03 Mar 00:30	28 Aug 22:30
29 May 22:30	01 Dec 00:30

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