Based on the last 12 ISM Manufacturing PMI events in United States, we expect USDCAD to trend downwards later today. Based on these past events there is a 71.43% chance of this. We expect USDCAD to trend downwards 48 hours following the event release at 02 Dec 02:00 if the released value is > 61. A price movement of 92 pips is expected.

Historical events that allowed us to draw this conclusion

02 Oct 00:00	02 Sep 00:00
02 Apr 01:00	02 Mar 02:00
06 Jan 02:00

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