Based on the last 12 Ifo Business Climate events in Germany, we expect a 27 pip movement on USDCAD within 2 hours following the event release at 25 Aug 08:00 UTC. We expect USDCAD to trend downwards 2 hours following the event release at 25 Aug 08:00 UTC if the released value is < 100.4 Historical events that allowed us to draw this conclusion

26 Jul 08:00

26 Apr 08:00

25 Jan 09:00

26 Oct 09:00