China Caixin Services PMI comes in below expectations at 51.6 (vs expected 52.0)

The Chinese services PMI for July has been released

The data arrived as follows: 

China Caixin Services PMI 51.6 (expected 52.0), Composite 50.9 (prior 50.6).

 In other news, China’s vow to impose countermeasures in light of Trump’s recent tariffs dampens market risk sentiment which is causing a bid on gold, the yen but weighing on the Aussie. 

About Chinese services data:

The Caixin Services PMI™ 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.