China Services PMI Slows In June

(fxcue news) - The services sector in China continued to expand in June, although at a slower pace, the latest survey from Caixin showed on Wednesday with a service PMI score of 51.2. That's down from 54.0 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Central to the latest expansion in services activity was rising new business inflows. Incoming new business increased again in June, extending the sequence of growth to one-and-a-half years. Anecdotal evidence suggested that better underlying demand conditions and a widening of the range of services on offer among firms supported the latest expansion in new work. Meanwhile an increase in tourism activity and improvements in overseas business conditions led to another solid rise in export sales. That said, the rates at which new and export business expanded both eased from May. The survey also showed that the composite index came in with a score of 52.8 in June, down from 54.1 in May. The rate of growth was solid despite easing from May. Underlying data revealed that output growth accelerated in the manufacturing sector but eased for services. New orders continued to rise in June, albeit at the slowest pace in four months. Meanwhile sentiment deteriorated with firms being the least upbeat in five years. Employment also declined across both manufacturing and service sectors.

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Trader

In the morning session of the Asian market, buying spot gold resulted in profits, while selling GBP/USD resulted in profits.

The price of gold has risen again, with 2 buy orders yielding profits and short-term sell orders yielding profits at high levels, perfect.

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

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China Services PMI Slows In June - Caixin

U.S. Private Sector Employment Climbs By 150

Thai Shares Due For Support On Wednesday

Canadian Market Up Slightly In Cautious Trade

China Services PMI Slows In June - Caixin

Swiss Market Ends On Weak Note

Eurozone Private Sector Growth Cools To 3-Month Low

U.S. Dollar Drops As Powell Signals Progress On Softening Of Price Pressures

U.S. Stocks Turning In Mixed Performance; Tesla Soars After Reporting Sales Data

Please sign in

Trader

In the morning session of the Asian market, buying spot gold resulted in profits, while selling GBP/USD resulted in profits.

The price of gold has risen again, with 2 buy orders yielding profits and short-term sell orders yielding profits at high levels, perfect.

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

The price of gold remains strong, and we broke even today.

Buy spot gold at 2665, take profit at 2673.

Tags

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