China Caixin Services PMI beats, supportive of AUD/USD´s near-term outlook
|The Caixin Services PMI, released by Markit Economics, has been released as follows:
- China Caixin Services PMI March: 57.8 (est 55.0; prev 55.0).
- Caixing Composit PMI March: 54.5 (prev 54.2).
AUD/USD update
AUD/USD remains tucked in on top of the 0.6700 trendline support.
AUD/USD´s bearish pennant is a compelling feature on the daily time frames and failures below 0.6720 keep the bearish bias in place as the following will illustrate.
About The Caixin Services PMI
The Caixin Services PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private service sector companies. The panel has been carefully selected to accurately replicate the true structure of the services economy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.