Based on past Canada Ivey PMI s.a news events there is a 85.71% chance of USDCAD trending downwards. We expect this to happen if the released value is > 61. A price movement of 24 pips is expected.

Historical events that allowed us to draw this conclusion

08 Dec 02:00	08 Oct 01:00
09 Sep 00:00	08 Apr 00:00
06 Mar 02:00	06 Feb 02:00

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