We expect USDCAD to trend upwards later today. Based on these past Euro Area Consumer Confidence Flash news events there is a 80% chance of this. We expect this to happen if the released value is > -30. A price movement of 71 pips is expected.

Historical events that allowed us to draw this conclusion

21 May 00:00	22 Apr 00:00
22 Jan 02:00	22 Oct 01:00

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