Wednesday, 28 November 2012

NZD/USD Gets Lift From Chinese PMI - Westpac


The NZD/USD rises to 0.8158 from 0.8134 early in New Zealand, bolstered after the HSBC's preliminary Chinese manufacturing data for November came out at 50.4, compared with a final reading for October of 49.5, indicating a expansion for the first time in 13 months. "China is the story of the day. Kiwi and Aussie rallied on that," says Westpac Bank Senior Strategist Imre Speizer. He says the pair has resistance at 0.8200 and support at 0.8110.

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