Based on past Canada Ivey PMI s.a news events there is a 83.33% chance of USDCAD trending upwards. We expect this to happen because the released value is < 25. A price movement of 51 pips is expected. Historical events that allowed us to draw this conclusion

08 Apr 00:00	08 Jan 02:00
07 Nov 02:00	05 Oct 00:00
06 Jul 00:00

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