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 80% chance of this. We expect USDCAD to trend downwards 48 hours following the event release at 15 Sep 10:30 if the released value is < 102. A price movement of 81 pips is expected. Historical events that allowed us to draw this conclusion

11 Aug 10:30	09 Jun 10:30
19 May 10:30	20 Jan 10:30

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