Consider closing some positions today

Be very careful of upcoming volatility because of Germany Markit Manufacturing PMI Flash news event later today. We expect a large increase in volatility on the these instruments following the event release at 23 Nov 08:30 GMT:

The table below summarizes how the volatility of each instrument is expected to change during this news event.

Symbol Normal Movement Range Movement range during DE Markit Manufacturing PMI Flash
AUDUSD 24-39 pips 28-48 pips (22.56%)
EURUSD 31-53 pips 41-70 pips (32.95%)
GBPUSD 36-60 pips 44-67 pips (12.21%)
NZDUSD 22-35 pips 26-44 pips (25.63%)
USDCAD 26-43 pips 30-45 pips (6.74%)
USDCHF 27-45 pips 32-50 pips (10.77%)
USDJPY 25-44 pips 28-51 pips (14.79%)

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

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