Based on past Euro Area GDP Growth Rate QoQ 2nd Est news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen if the released value is = -0.6%. A price movement of 127 pips is expected.

Historical events that allowed us to draw this conclusion

14 Aug 19:00	15 May 19:00
14 Nov 21:00	14 Feb 21:00
14 Nov 21:00	15 May 19:00

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