Based on the last 12 Industrial Production YoY events in Euro Area, we expect USDCAD to trend downwards right now. Based on these past events there is a 83.33% chance of this. We expect USDCAD to trend downwards for the next 2 hours because the released value is < 10.4%. A price movement of 25 pips is expected. Historical events that allowed us to draw this conclusion

14 Jul 19:00	12 May 19:00
15 Feb 21:00	12 Nov 21:00
12 Aug 19:00

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