Based on the last 12 Ivey PMI s.a events in Canada, we expect USDCAD to trend downwards right now. Based on these past events there is a 66.67% chance of this. We expect USDCAD to trend downwards for the next 12 hours because the released value is > 43. A price movement of 40 pips is expected.

Historical events that allowed us to draw this conclusion

06 Jun 00:00	08 Feb 02:00
07 Sep 00:00	08 Aug 00:00

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