Based on the last 12 Philadelphia Fed Manufacturing Index events in United States, we expect a 116 pip movement on AUDUSD within 48 hours following the event release at 20 May 22:30 GMT+10. We expect AUDUSD to trend downwards 48 hours following the event release at 20 May 22:30 GMT+10 if the released value is < 43 Historical events that allowed us to draw this conclusion

18 Dec 00:30

21 May 22:30

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