25 pip movement on USDCAD expected

Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a 25 pip movement on USDCAD within 48 hours following the event release at 23 Nov 08:30 GMT. We expect USDCAD to trend upwards 48 hours following the event release at 23 Nov 08:30 GMT if the released value is = 52.2

Historical events that allowed us to draw this conclusion

21 Feb 08:30

14 Dec 08:30

23 Nov 08:30

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

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