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China: Caixin services PMI rises to 52.7 in March, as expected

He China's services Purchasing Managers' Index (PMI) improved to 52.7 in Marchup from 52.5 in February, according to the latest data released by Caixin on Tuesday.

The data was in line with market expectations in the period analyzed.

Key points

The entry of new companies increases solidly, driving greater business activity.

Improve business confidence.

Sales prices increase at a slower rate along with falling cost inflation.

Commenting on the China General Services PMI™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group, said: “Supply and demand growth accelerated pace. Improving market demand drove a continued rise in the offer.”

“Both business activity and total new orders grew for the 15th consecutive month, while exports continued to grow amid a recovery in the global economy, pushing the corresponding measure to its highest level since June,” Wang added.

Australian Dollar Prices Today

Below is the percentage change of the Australian Dollar (AUD) against the main currencies listed today. The Australian Dollar was the weakest currency against the Euro.

USD -0.03% 0.03% 0.04% 0.07% 0.04% 0.19% 0.02%
EUR 0.04% 0.07% 0.08% 0.11% 0.07% 0.21% 0.04%
GBP -0.04% -0.07% 0.01% 0.03% -0.01% 0.14% -0.02%
CAD -0.04% -0.07% -0.01% 0.03% -0.01% 0.15% -0.03%
AUD -0.07% -0.10% -0.03% -0.02% -0.03% 0.13% -0.05%
JPY -0.03% -0.08% -0.02% 0.02% 0.04% 0.13% -0.03%
NZD -0.19% -0.22% -0.15% -0.15% -0.11% -0.15% -0.17%
CHF -0.01% -0.04% 0.02% 0.03% 0.07% 0.03% 0.17%

The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the Euro in the left column and scroll down the horizontal line to the Japanese Yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).

Source: Fx Street

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