Based on the last 12 NAB Business Confidence events in Australia, we expect a 41 pip movement on EURUSD within 4 hours following the event release at 2023-05-08 11:30. We expect EURUSD to trend downwards 4 hours following the event release at 2023-05-08 11:30 if the released value is < 1 Historical events that allowed us to draw this conclusion

14 Mar 11:30	24 Jan 11:30
13 Dec 11:30	08 Nov 11:30
11 Oct 11:30	12 Jul 11:30

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