China’s Services Purchasing Managers’ Index (PMI) declined to 50.7 in April from 51.9 in March, the latest data published by Caixin showed on Tuesday.
The data missed the market forecast of 51.7 in the reported period by a wide margin.
AUD/USD reaction to China’s Services PMI
The Chinese proxy, the Australian Dollar (AUD) remains deep in the red on the data release, with AUD/USD losing 0.30% on the day to trade at 0.6450 as of writing.
