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On Event

36 pip movement on USDCHF expected

Based on the last 12 Ifo Business Climate events in Germany, we expect USDCHF to trend downwards later today. Based on these past events there is a 80% chance of this. We expect USDCHF to trend downwards 2 hours following the event release at 2023-05-24 08:00 if the released value is < 93. A price movement of 36 pips is expected. Historical events that allowed us to draw this conclusion

24 Apr 08:00
22 Feb 09:00
25 Jul 08:00
24 Jun 08:00