Based on the last 12 Balance of Trade events in Germany, we expect a $420 movement on NZDUSD within 12 hours following the event release at 07 Aug 16:00. We expect NZDUSD to trend downwards 12 hours following the event release at 07 Aug 16:00 if the released value is > € 1.4B

Historical events that allowed us to draw this conclusion

07 Feb 18:00	09 Dec 18:00
08 Nov 18:00	09 Aug 16:00

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