Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect a 27 pip movement on USDCAD within 2 hours following the event release at 31 Aug 12:00 UTC. We expect USDCAD to trend downwards 2 hours following the event release at 31 Aug 12:00 UTC if the released value is > 0.1%

Historical events that allowed us to draw this conclusion

29 Apr 12:00

03 Jan 13:00