We expect USDCAD to trend upwards later today. Based on these past Germany Ifo Business Climate news events there is a 85.71% chance of this. We expect this to happen if the released value is > 87.4. A price movement of 163 pips is expected.

Historical events that allowed us to draw this conclusion

24 Nov 20:00	25 Aug 18:00
23 May 18:00	25 Apr 18:00
22 Feb 20:00	25 Jan 20:00

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