We expect USDCAD to trend upwards for the next 12 hours. Based on these past United States Housing Starts news events there is a 80% chance of this. We expect this to happen because the released value is < 1.478M. A price movement of 63 pips is expected. Historical events that allowed us to draw this conclusion

17 Jun 22:30	19 May 22:30
20 Nov 00:30

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