Based on past Germany Balance of Trade news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen if the released value is < €14.2B. A price movement of 32 pips is expected. Historical events that allowed us to draw this conclusion

09 Nov 18:00	08 Oct 17:00
09 Sep 16:00	09 Aug 16:00
09 Apr 16:00	09 Feb 18:00

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