USDCAD could trend downwards later today. Based on these past United States Existing Home Sales news events there is a 80% chance of this. This could happen only if the released value is > 5.4M. The price movement may be as big as 29 pips.

Historical events that allowed us to draw this conclusion

23 Nov 02:00	22 Oct 01:00
24 Aug 00:00	23 Jun 00:00

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