China’s Caixin/Markit services PMI was expected to remain in good health for July from 58.4 prior.
The data, however, has arrived as follows:
Caixin/Markit services PMI
China Caixin/IHS Markit July services PMI at 54.1 (vs 58.4 in June).
Forex reaction
Ahead of the data, China's onshore spot yua