We expect USDCAD to trend downwards for the next 48 hours. Based on these past Germany Balance of Trade news events there is a 71.43% chance of this. We expect this to happen because the released value is < €16.8B. A price movement of 114 pips is expected. Historical events that allowed us to draw this conclusion

08 Jul 16:00	09 Apr 16:00
09 Feb 18:00	09 Dec 18:00
08 Oct 17:00

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