Based on the last 12 ZEW Economic Sentiment Index events in Germany, we expect a $940 movement on NZDUSD within 48 hours following the event release at 2022-07-12 19:00. We expect NZDUSD to trend downwards 48 hours following the event release at 2022-07-12 19:00 if the released value is < -38.3 Historical events that allowed us to draw this conclusion

14 Jun 19:00	15 Mar 21:00
15 Feb 21:00	12 Oct 20:00
10 Aug 19:00

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