Based on the last 12 Unemployment Rate events in Canada, we expect USDCAD to trend downwards later today. Based on these past events there is a 75% chance of this. We expect USDCAD to trend downwards 4 hours following the event release at 2023-02-11 00:30 if the released value is < 5.1%. A price movement of 176 pips is expected. Historical events that allowed us to draw this conclusion

07 Jan 00:30	03 Dec 00:30
04 Nov 23:30	07 Oct 23:30
08 Jul 22:30	12 Mar 00:30

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