Euro Area Business Confidence News Event – a possible $128.233 movement on USDCAD

Based on the last 12 Business Confidence events in Euro Area, we expect a $128.233 movement on USDCAD within 2 hours following the event release at 29 Nov 10:00. We expect USDCAD to trend downwards 2 hours following the event release at 29 Nov 10:00 if the released value is < 0.96

Historical events that allowed us to draw this conclusion

30 Oct 10:00
30 Aug 10:00
30 Jul 10:00
28 Jun 10:00
30 Jan 10:00

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

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