Based on past Germany Markit Manufacturing PMI Flash news events there is a 75% chance of USDCAD trending downwards. We expect this to happen because the released value is > 55.8. A price movement of 32 pips is expected.

Historical events that allowed us to draw this conclusion

16 Dec 19:30	23 Nov 19:30
22 Oct 18:30	23 Jul 17:30
23 Jun 17:30	24 Mar 19:30

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