We expect USDCAD to trend upwards for the next 4 hours. Based on these past Japan Consumer Confidence news events there is a 80% chance of this. We expect this to happen because the released value is > 34. A price movement of 33 pips is expected.

Historical events that allowed us to draw this conclusion

31 Aug 15:00	31 May 15:00
02 May 15:00	01 Oct 15:00

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