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Forex Flash: Short NZD/USD for a target of 0.8060 - Westpac

There are reports that the Westpac FX strategy team has gone short the NZD/USD around 0.8260 for a target of 0.8050 and a stop loss at 0.8360, for a risk reward scenario of over 2:1.

According to Sean Lee, founder at FXWW, "reading between the lines, and whilst they give plenty of reasons for the trade, stops below the market would seem to be their primary reasoning, and these guys will see a lot of orders..."

Forex: AUD/USD slightly weaker post-PMI China

AUD/USD slips slightly to the downside, last at 1.0207, with latest PMI China a bit lower than expected at 50.1, when estimated was at 50.2. The reaction in the pair is not very strong so far, coming lower from previous 1.0220 to the data, now about 30 more minutes away from final HSBC PMI.
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China Feb HSBC Manufacturing PMI: 50.4

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