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We expect a 32 pip movement on DX within 12 hours following the event release.

Based on the last 12 ZEW Economic Sentiment Index events in Germany, we expect a 32 pip movement on DX within 12 hours following the event release at 11 May 09:00 UTC. We expect DX to trend downwards 12 hours following the event release at 11 May 09:00 UTC if the released value is < 72 Historical events that allowed us to draw this conclusion

13 Apr 09:00
10 Nov 10:00
14 Jul 09:00

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

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