Based on past Germany Inflation Rate YoY Prel news events there is a 66.67% chance of USDCAD trending downwards. We expect this to happen because the released value is > 9.4%. A price movement of 49 pips is expected.

Historical events that allowed us to draw this conclusion

30 May 22:00	28 Apr 22:00
01 Feb 00:00	07 Jan 00:00
30 Nov 00:00	28 Oct 23:00

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