Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect USDCAD to trend upwards later today. Based on these past events there is a 80% chance of this. We expect USDCAD to trend upwards 12 hours following the event release at 13 May 10:30 if the released value is > 65. A price movement of 75 pips is expected.

Historical events that allowed us to draw this conclusion

13 Nov 10:30	11 Sep 10:30
14 Aug 10:30	15 May 10:30

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