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PMI Services data mixed and showing some stagnation in Europe

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Notes/Observations - China July HSBC Services PMI: hits lowest since records began in 2005 (50.0 vs. 53.1 prior); China's progress in rebalancing its economy has been limited - Australia Jun Trade Balance registers its 3rd consecutive deficit (-A$1.7B vs. -A$2.0Be) - European Services PMI data comes in mixed (UK beats, Germany revised up, France steady Euro Zone revised down and Italy misses). Key Economic Data in session - (AU) RBA left its Rate Target unchanged at 2.50%; as expected - (IN) Reported by FXstreet.com 3 hours ago.

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