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China's services companies continued to recover in August from the recent wave of the pandemic underpinned by strong sales, survey results from S&P Global showed on Monday. The Caixin services Purchasing Managers' Index came in at 55.0, down from 55.5 in July. A score above 50.0 indicates expansion. Moreover, the rate of expansion was the second-quickest recorded since May 2021.

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The services sector fell into contraction territory in August, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 49.5.

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The Bank of Canada (BoC) interest rate decision may keep USD/CAD afloat as the central bank is expected to adjust its approach in combating inflation.
The daily price is located above 200 SMA in the bullish area of the chart: price is trying to break resistance level at 1.32 to above for the bullish trend to be continuing. Alternatively, the price will be on secondary ranging waiting for direction of the strong trend to be started.

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The European Central Bank needs to hike interest rates by 75 basis points at next week's meeting and confirm that it will continue to tighten monetary policy to throttle back runaway inflation.

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USD enters the week on a firm footing as the US Dollar Index (DXY) anticipates the ECB interest decision on Thursday. ISM non-manufacturing PMI in focus.
The daily price was bounced from 103.94 resistance level to below for the secondary correction within the primary bulluish trend to be started.

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