We expect USDCAD to trend downwards later today. Based on these past United States Durable Goods Orders MoM news events there is a 80% chance of this. We expect this to happen if the released value is > -0.5%. A price movement of 76 pips is expected.

Historical events that allowed us to draw this conclusion

24 Dec 00:30	27 Oct 23:30
27 Sep 22:30	25 Aug 22:30

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