Based on past Euro Area Industrial Production YoY news events there is a 85.71% chance of USDCAD trending downwards. We expect this to happen if the released value is > -3.1%. A price movement of 21 pips is expected.

Historical events that allowed us to draw this conclusion

12 Dec 21:00	13 Nov 21:00
13 Jun 19:00	14 May 19:00
12 Apr 19:00	13 Mar 21:00

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