China Caixin Services miss caps AUD advance

Ross J Burland FXStreet

The Chinese Caixin Services PMI as follows:

China caixin services PMI April: 36.2 (est 40.0; prev 42.0).
Caixin composite PMI April: 37.2 (prev 43.9).

The data has taken some of the wind out of the Aussie's sails as follows:

The Aussie is firm following the Federal Reserve and the Aussie Trade Balance, but the COVID situation in China is weighing on risk appetite and capping the Aussie vs. the greenback.

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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GBP/USD resumes the downtrend, back to the low-1.3600s

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