Based on the last 12 Balance of Trade events in Germany, a $1,080 movement could occur on AUDUSD within 48 hours following the event release at 04 Jul 16:00. We expect AUDUSD to trend downwards 48 hours following the event release at 04 Jul 16:00 if the released value is < €1.2B Historical events that allowed us to draw this conclusion

03 Jun 16:00	04 Mar 18:00
09 Feb 18:00	09 Dec 18:00
09 Nov 18:00	09 Aug 16:00

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