China Caixin Services miss caps AUD advance

The Chinese Caixin Services PMI as follows:

• China caixin services PMI April: 36.2 (est 40.0; prev 42.0).
• Caixin composite PMI April: 37.2 (prev 43.9).

The data has taken some of the wind out of the Aussie's sails as follows:

The Aussie is firm following the Federal Reserve and the Aussie Trade Balance, but the COVID situation in China is weighing on risk appetite and capping the Aussie vs. the greenback. 

About the Caixin Services PMI

The Caixin Services PMI™, released by Markit Economics, 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.