We expect a $520 movement on NZDUSD within 48 hours following the release of Ifo Business Climate at 25 Jan 20:00. We expect NZDUSD to trend upwards 48 hours following the event release at 25 Jan 20:00 if the released value is < 91.8. A price movement of 52 pips is expected. Historical events that allowed us to draw this conclusion

26 Oct 20:00	24 Sep 18:00
24 Apr 18:00	25 Mar 20:00

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