Based on past United States ISM Manufacturing PMI news events there is a 75% chance of USDCAD trending downwards. We expect this to happen because the released value is < 65. A price movement of 96 pips is expected. Historical events that allowed us to draw this conclusion

02 Dec 02:00	02 Oct 00:00
02 Jun 00:00

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