USDCAD may trend downwards for the next 4 hours. Based on these past Euro Area Industrial Production YoY news events there is a 75% chance of this. Our expectation is based on that fact that the released value is < -1.1%. A price movement of 39 pips could be expected. Historical events that allowed us to draw this conclusion

15 Mar 21:00	12 Jan 21:00
14 Jul 19:00

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