Based on the last 12 GDP Growth Rate QoQ Flash events in Euro Area, we expect USDCAD to trend upwards. Based on these past events there is a 75% chance of this. We expect USDCAD to trend upwards for 4 hours because the released value is = 0.2%. A price movement of 22 pips is expected.
Historical events that allowed us to draw this conclusion
31 Jan 10:00 |
02 May 09:00 |
31 Oct 10:00 |
01 Aug 09:00 |
03 May 09:00 |
31 Oct 10:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
