Consider closing some positions today

Be very careful of upcoming volatility because of Euro Area Business Confidence news event later today. We expect a large increase in volatility on the these instruments following the event release at 08 Jan 10:00 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 Business Confidence
AUDUSD 19-29 pips 20-31 pips (4.32%)
GBPUSD 33-55 pips 32-48 pips (-13.86%)
NZDUSD 18-28 pips 21-32 pips (13.36%)
USDCAD 23-37 pips 25-42 pips (15.11%)
USDCHF 22-36 pips 23-38 pips (7.06%)
USDJPY 19-33 pips 20-34 pips (3.35%)

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

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