Be very careful of upcoming volatility because of United States Philadelphia Fed Manufacturing Index news event later today. Based on the last 12 Philadelphia Fed Manufacturing Index events in United States, we expect a $520 movement on GBPUSD within 4 hours following the event release at 15 Aug 12:30. We expect this to happen if the released value is > 10. A price movement of 52 pips is expected.
Historical events that allowed us to draw this conclusion
16 May 12:30 |
21 Mar 12:30 |
18 Oct 12:30 |
20 Sep 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
