Due from China today
Due at 0145GMT
- HSBC/Markit reading for Services PMI for June, prior was 53.5
- And the HSBC/Markit Composite PMI for June, prior was 51.2
(As a nice piece of market trivia, use this to impress that attractive person you're trying to pick up at the bar over the weekend ... from August HSBC will no longer be the sponsor of these (nor the manufacturing) PMIs ... Caixin is the new sponsor. Oh, and let us know how this works re the pick-up.)
The services PMIs are not an immediate FX market focus.
Anyway ... the action in (are) China is the stock market (s) .... yikes.
Shanghai Composite ... please pass the Imodium ... quick!
There have been many, many efforts from the government this week to give it some support .... stock buybacks, easing margin requirements, rate cuts .... they haven't had much success so far .... maybe they can argue 'it could been worse!'
