We expect USDCAD to trend downwards later today. Based on these past United States Non Farm Payrolls news events there is a 66.67% chance of this. We expect this to happen if the released value is > 647K. A price movement of 67 pips is expected.

Historical events that allowed us to draw this conclusion

06 Mar 00:30	07 Nov 00:30
07 Aug 22:30	02 Jul 22:30

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