We expect USDCAD to trend downwards later today. Based on these past United Kingdom Balance of Trade news events there is a 71.43% chance of this. We expect this to happen if the released value is > £-2.2B. A price movement of 88 pips is expected.

Historical events that allowed us to draw this conclusion

09 Jul 21:00	12 May 16:00
12 Mar 18:00	09 Oct 17:00
12 Aug 16:00

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