China's service sector growth decelerates

Source: Dukascopy
Chinese services sector growth decelerated last month, escalating worries about overall performance of the country's economy. Non-manufacturing PMI declined from 56.1 to 55.2 last month, following sharp fall in manufacturing activity. The data is expected to force China's government to ease monetary policy further to stimulate sluggish economic performance of the country.

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Mon, 04 Jun 2012 07:22:18 GMT

Crude oil declines after China's service data

Crude oil prices dropped in Asian trade on Monday amid weak China's services PMI and dismal US job market data. Light, sweet crude oil futures for July delivery traded at 82.75 US Dollars per barrel on the New York Mercantile Exchange, retreating by 0.58% from the previous session's high of 83.36 US Dollars per barrel.

Mon, 04 Jun 2012 09:28:18 GMT

Aussie and Kiwi lower on global growth fears

The Australian and New Zealand Dollar depreciated on worries the global growth has been hit by European debt crisis and expansion slowdown in US. The short selling of Aussie hit a record high as traders bet on national currency's drop versus greenback. Australian Dollar lost 0.4% against its US peer to USD 0.9666 while New Zealand Dollar declined 0.2% to USD 0.7530.

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