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Based on the last 12 GDP Growth Rate QoQ 2nd Est events in Euro Area, we could 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 2 hours following the event release at 17 May 19:00 if the released value is = 0.2%. A price movement of 44 pips could result.
Historical events that allowed us to draw this conclusion
15 Feb 21:00 |
16 Nov 21:00 |
18 May 19:00 |
14 Aug 19:00 |
15 May 19:00 |
14 Nov 21:00 |
14 Aug 19:00 |
15 May 19:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).