Based on the last 12 Ifo Business Climate events in Germany, we expect a $850 movement on NZDUSD within 48 hours following the event release at 22 Feb 20:00. We expect NZDUSD to trend upwards 48 hours following the event release at 22 Feb 20:00 if the released value is > 96.5

Historical events that allowed us to draw this conclusion

24 Jun 18:00	25 May 18:00
26 Mar 20:00	22 Feb 20:00

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