Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect a 11 pip movement on NG within 2 hours following the event release at 31 Jan 13:00 UTC. We expect NG to trend downwards 2 hours following the event release at 31 Jan 13:00 UTC if the released value is = 4.3%

Historical events that allowed us to draw this conclusion

30 Aug 12:00

30 Mar 12:00