Based on the last 12 ZEW Economic Sentiment Index events in Germany, we expect USDCAD to trend upwards later today. Based on these past events there is a 66.67% chance of this. We expect USDCAD to trend upwards 48 hours following the event release at 2023-02-21 21:00 if the released value is > 22. A price movement of 86 pips is expected.

Historical events that allowed us to draw this conclusion

17 Jan 21:00	15 Nov 21:00
18 Oct 20:00	10 May 19:00

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