USDCAD will trend downwards right now

Past performance is not an indicator of future results.
We expect USDCAD to trend downwards for the next 4 hours. Based on these past United States ISM Manufacturing PMI news events there is a 66.67% chance of this. We expect this to happen because the released value is < 55.5. A price movement of 19 pips is expected.

Historical events that allowed us to draw this conclusion

03 Jan 15:00
01 Oct 15:00
01 Aug 15:00
01 May 15:00

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

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