Based on the last 12 Ifo Business Climate events in Germany, we expect NZDUSD to trend upwards later today. Based on these past events there is a 66.67% chance of this. We expect NZDUSD to trend upwards 48 hours following the event release at 24 Sep 18:00 if the released value is < 98.9. A price movement of 16 pips is expected. Historical events that allowed us to draw this conclusion

25 Aug 18:00	25 Jan 20:00
26 Oct 20:00	24 Sep 18:00

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