We expect USDCAD to trend upwards today with a 80% chance.

We expect USDCAD to trend upwards later today. Based on these past United Kingdom Balance of Trade news events there is a 80% chance of this. We expect this to happen if the released value is > £-3.8B. A price movement of 4 pips is expected.

Historical events that allowed us to draw this conclusion

09 Aug 08:30
10 Jul 08:30
10 Jun 08:30
09 Nov 09:30

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

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