Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect USDCAD to trend downwards later today. Based on these past events there is a 71.43% chance of this. We expect USDCAD to trend downwards 4 hours following the event release at 14 Apr 10:30 if the released value is > 113. A price movement of 18 pips is expected.

Historical events that allowed us to draw this conclusion

09 Dec 12:30	14 Oct 10:30
09 Sep 10:30	10 Jun 10:30
13 May 10:30

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