Caixin Services PMI comes in at 50.4 against 53.9 consensus

The Caixin Services PMI for China was released today, August 5, 2026, at 50.4. This figure came in below the consensus expectation of 53.9. The previous month’s reading was 54.1. The actual print represented a -6.5% surprise compared to the consensus forecast.

Following the release, USDCNH showed a move of -11 pips within five minutes and -7.8 pips after fifteen minutes. Historically, USDCNH has seen a median one hour move of 6 pips after similar releases. Top quarter releases have typically seen moves of 8 pips or more. These historical observations are based on two releases since 2015. Directional reliability statistics are not yet available for this event.