•Private service sector activity ticked up in November, according to Caixin •Taken with a manufacturing deceleration, the overall picture hasn’t changed much •Neither did AUD/USD, which was more focused elsewhere The Australian Dollar was steady on Monday after news of a pickup in Chinese service-sector output was published. The private Caixin Purchasing Managers Index (PMI) for the sector came in at 53.1 in November, up from 52.4 the month before. This result contrasts slightly with the modest decceleration seen in the Caixin manufacturing survey, released last week. In the logic of PMIs 50 is the magic level which ... (full story)