X @外汇交易员

Economic Indicators - China's July Caixin/S&P Global Services PMI reached 52.6, exceeding expectations of 50.4 [1] - The Composite PMI registered 50.8 [1] - China's July S&P Global Manufacturing PMI came in at 49.5, below the anticipated 50.4 [2] Service Sector Performance - Service sector new business volume experienced a notable increase, marking a one-year high [1] - The improvement was attributed to enhanced basic demand and successful business expansion [1] - Foreign demand rebounded for the first time in three months, driven by increased tourism and stable trade conditions, leading to the highest export order growth since February [1] Manufacturing Sector Performance - China's manufacturing output experienced its second decline since October 2023 [3] - Surveyed companies attributed the production decrease to a slowdown in new order growth [3] - Manufacturers reported weak foreign demand, with new export orders contracting for the fourth consecutive month and at an accelerated pace compared to June [3] Cost Pressure - Average input costs continued to rise in July due to increased raw material, fuel, and payroll expenses [1]