China's Caixin Services PMI leaps to 53.1

Joshua Gibson FXStreet

China's Caixin Services PMI clocked in at a surprising 53.1 for the month into September, with broader markets anticipating a restrained reading of 51.5.

Key highlights

China's Composite reading also improved, albeit slightly, ticking up from 52.0 to 52.1 for September, and risk-prone bulls in the Asia-Pacific session may have been given a reason to buy in the early Monday trading window. New orders improved as well, reaching their fastest pace of expansion in over 3 months, though the employment category did hit into contraction, printing at 49.0 for the first time since mid-2016.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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