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We expect a 300 pip movement on KC within 4 hours following the event release.

Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a 300 pip movement on KC within 4 hours following the event release at 23 Jun 07:30 UTC. We expect KC to trend upwards 4 hours following the event release at 23 Jun 07:30 UTC if the released value is > 41.5

Historical events that allowed us to draw this conclusion

24 Mar 08:30
21 Feb 08:30
24 Jan 08:30
22 Nov 08:30
22 Aug 07:30
21 Jun 07:30

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

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