Based on past Euro Area Unemployment Rate news events there is a 66.67% chance of USDCAD trending upwards. We expect this to happen if the released value is = 7.4%. A price movement of 40 pips is expected.

Historical events that allowed us to draw this conclusion

03 Mar 21:00	09 Jan 21:00
30 Aug 19:00	31 Jul 19:00

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