Consider closing some positions today

Be very careful of upcoming volatility because of Euro Area Consumer Confidence Flash news event later today. We expect a large increase in volatility on the these instruments following the event release at 21 Dec 15:00 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 EMU Consumer Confidence Flash
AUDUSD 26-42 pips 27-38 pips (-8.88%)
EURUSD 33-55 pips 34-59 pips (7.98%)
NZDUSD 26-43 pips 25-38 pips (-10.70%)
USDCHF 31-51 pips 32-54 pips (7.47%)

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

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