Based on the last 12 ZEW Economic Sentiment Index events in Germany, we expect a $410 movement on NZDUSD within 2 hours following the event release at 19 May 19:00. We expect NZDUSD to trend downwards 2 hours following the event release at 19 May 19:00 if the released value is < 32 Historical events that allowed us to draw this conclusion

17 Mar 21:00	18 Feb 21:00
16 Jul 19:00	14 May 19:00

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