At 0145GMT we get the HSBC China Services PMI, following very closely indeed behind the official non-manufacturing PMI which just came in at 55.6 (from 54.5 in February).
From Markit Economics:
The HSBC China Composite PMI data (which covers both manufacturing and services) signalled a further expansion of business activity during February. Output has now increased at the composite level for six consecutive months. However, the rate of expansion eased from January and was modest overall. The HSBC China Composite Output Index posted 51.4 in February, down from January’s two-year high of 53.5
Again, the AUD market will be looking at this release and a much better result could see the AUD testing recent highs around 1.0470/80, gotta say, though, AUD doesn’t lok to good so far – its looking like ti may very well head a little lower to check on those bids around 1.0330/40.
