We expect a 1605 pip movement on PL within 4 hours following the event release.

Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect PL to trend downwards later today. Based on these past events there is a 75% chance of this. This may happen if the released value is < 7.3% Historical events that allowed us to draw this conclusion

09 Feb 07:00

03 Jan 13:00

29 Jun 12:00

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