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We expect NZDUSD to trend downwards today with a 75% chance.

We expect NZDUSD to trend downwards later today. Based on these past United States ISM Manufacturing PMI news events there is a 75% chance of this. We expect this to happen if the released value is > 50.1. A price movement of 20 pips is expected.

Historical events that allowed us to draw this conclusion

01 Jul 14:00
01 Apr 14:00
01 Feb 15:00

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

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We expect a $52.435 movement on CL within 12 hours following the release of ISM Manufacturing PMI.

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