We expect USDCAD to trend downwards later today. Based on these past Germany Ifo Business Climate news events there is a 83.33% chance of this. We expect this to happen if the released value is < 94.2. A price movement of 24 pips is expected. Historical events that allowed us to draw this conclusion

24 Nov 20:00	24 Sep 18:00
25 Aug 18:00	26 Jul 18:00
26 Apr 18:00

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