Based on the last 12 Ifo Business Climate events in Germany, we expect a $150.746 movement on USDCAD within 48 hours following the event release at 24 Feb 20:00. We expect USDCAD to trend upwards 48 hours following the event release at 24 Feb 20:00 if the released value is < 95.3 Historical events that allowed us to draw this conclusion

26 Aug 18:00	25 Jul 18:00
24 Apr 18:00

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