Based on the last 12 Ifo Business Climate events in Germany, we expect NZDUSD to trend downwards later today. Based on these past events there is a 66.67% chance of this. We expect NZDUSD to trend downwards 48 hours following the event release at 2023-03-27 19:00 if the released value is > 91. A price movement of 131 pips is expected.

Historical events that allowed us to draw this conclusion

19 Dec 20:00	24 Nov 20:00
25 Aug 18:00	25 Apr 18:00

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