China’s Caixin services PMI for March came in at 54.3 vs. 51.5 last and 51.7 expectations, which showed a solid increase in services activity in March. The Composite Output Index also fell from 51.7 in February to 53.1 in March. A sub-index for employment rose back into positive territory as businesses hired more workers than they laid off. Key findings Business activity and sales both rise at quicker rates. Employment returns to growth. Business confidence hits highest for over a decade amid hopes of post-pandemic recovery. Commenting on the China General Services PMI â„¢ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: ” “The Caixin China General Services Business Activity Index rose to 54.3 in March, ending a three-month slide and marking the 11th straight month in expansionary territory. The March reading was up 2.8 points from February’s.” AUD/USD unfazed around 0.7650 The upbeat Chinese Services PMI numbers have little to no impact on the AUD bulls, as AUD/USD keeps its range around 0.7650. The spot trades 0.05% up on the day. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD ignores strong China Caixin Services PMI ahead of RBA rate decision FX Street 2 years China's Caixin services PMI for March came in at 54.3 vs. 51.5 last and 51.7 expectations, which showed a solid increase in services activity in March. The Composite Output Index also fell from 51.7 in February to 53.1 in March. A sub-index for employment rose back into positive territory as businesses hired more workers than they laid off. Key findings Business activity and sales both rise at quicker rates. Employment returns to growth. Business confidence hits highest for over a decade amid hopes of post-pandemic recovery. Commenting on the China General Services PMI â„¢ data, Dr. Wang Zhe, Senior Economist… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
