USDCAD may trend downwards for the next 4 hours. Based on these past Germany Inflation Rate YoY Prel news events there is a 75% chance of this. Our expectation is based on that fact that the released value is > 7.2%. A price movement of 49 pips could be expected.

Historical events that allowed us to draw this conclusion

01 Feb 00:00	07 Jan 00:00
30 Nov 00:00	28 Oct 23:00
29 Jul 22:00	29 Apr 22:00

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