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20 Feb 2014
AUD/NZD drops to 1.0840 after Chinese PMI
FXStreet (Córdoba) - The AUD/NZD fell quickly from 1.0880 to 1.0840 after the release of the Chinese PMI that weakened the Aussie across the board.
The preliminary Chinese HSBC PMI fell in February to 48.3 from 49.5, below expectations of a reading of 49.4 suggesting that the manufacturing activity continues to slowdown.
The AUD/NZD moved away from the 1.0900 area after the report losing upside momentum and approached yesterday’s lows that lie at 1.0833. After bottoming at 1.0840 moved slightly away from the lows and currently trades at 1.0850/55.
The preliminary Chinese HSBC PMI fell in February to 48.3 from 49.5, below expectations of a reading of 49.4 suggesting that the manufacturing activity continues to slowdown.
The AUD/NZD moved away from the 1.0900 area after the report losing upside momentum and approached yesterday’s lows that lie at 1.0833. After bottoming at 1.0840 moved slightly away from the lows and currently trades at 1.0850/55.