We expect USDCAD to trend downwards later today. Based on these past Germany Inflation Rate YoY Prel news events there is a 71.43% chance of this. We expect this to happen if the released value is > 5.1%. A price movement of 53 pips is expected.

Historical events that allowed us to draw this conclusion

28 Oct 23:00	29 Jul 22:00
31 May 22:00	02 Mar 00:00
29 Jan 00:00

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