News Headline Summary

Chinese HSBC Services PMI (Nov) M/M 52.1 (Prev. 53.5)

Reaction details (20:47)

- AUD/USD immediately moved lower by 7 pips from 1.0471 to 1.0464, trade 1.0466 (-4 pips)last.
- No immediate reaction observed either in Hang Seng or Shanghai Composite index.

Analysis details (20:51)

- Growth in China's services sector slowed in November as lucklustre growth in New Orders sub-index and a surge of recent hires reduced work backlogs.
- Despite the moderating growth of services activities in November, services providers hired more workers and became more optimistic on future outlook, according to HSBC's China chief economist.

04 Dec 2012 - 20:45 - Forex Data - Source: Newswires

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