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Forex: Recap and Ranges - Asia

Posted by Akhilesh Ganti on Oct 23, 2013 10:55:00 PM

New Zealand's Spetember Trade deficit was much smaller than expected, posting a reading of -199 million NZD -vs- estimates of -750 million NZD as exports outperformed expectations. China's Flash manufacturing PMI for October rose to a seven month high of 50.9 exceeding both estimates of 50.5 and last month's figure of 50.2. This is an encouraging sign as it implies that China's growth is likely to sustain its momentum as it heads into Q4 after potentially bottoming out in Q3.

Ranges: {charts: WWM Flash Trader - 60min}(click to enlarge)
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