China’s Caixin Services PMI drops to 51.2 in June vs. 53.4 expected

China's Services Purchasing Managers' Index (PMI) fell from 54.0 in May to 51.2 in June, according to the latest data released by Caixin on Wednesday.

The market forecast was for a 53.4 figure in the reported period.

Jul 3, 2024

China Caixin Services PMI registered at 51.2, below expectations (53.4) in June

Gold price remains confined in a range below 50-day SMA, FOMC minutes in focus

Gold price (XAU/USD) struggles to capitalize on the overnight bounce from the $2,319 area and oscillates in a narrow band below the 50-day Simple Moving Average (SMA) during the Asian session on Wednesday.