Based on the last 12 Industrial Production YoY events in Euro Area, we expect USDCAD to trend upwards right now. Based on these past events there is a 80% chance of this. We expect USDCAD to trend upwards for the next 2 hours because the released value is < -1.1%. A price movement of 18 pips is expected. Historical events that allowed us to draw this conclusion

14 Oct 20:00	14 Aug 19:00
13 Feb 21:00	14 Jan 21:00