Based on the last 12 Inflation Rate YoY events in Japan, we expect a $304 movement on USDCAD within 12 hours following the event release at 2023-06-23 09:30. We expect USDCAD to trend downwards 12 hours following the event release at 2023-06-23 09:30 if the released value is < 4.1% Historical events that allowed us to draw this conclusion

23 Dec 10:30

22 Jul 09:30

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