Based on past Germany Ifo Business Climate news events there is a 71.43% chance of USDCAD trending downwards. We expect this to happen because the released value is > 93.2. A price movement of 32 pips is expected.

Historical events that allowed us to draw this conclusion

22 Feb 20:00	24 Nov 20:00
25 Aug 18:00	27 Jul 18:00
25 May 18:00

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