Australia July services PMI (the first of two due today) 53.6 (prior 63.0)

This is the Australian Industry Group (AiG) Performance of Services Index for July

Or, lack of performance is probably a better name for it this month.

A big plunge from the previous month, a drop of 9.4 points

This goes along with the drop from the AiG manufacturing performance:

• AiG Manufacturing PMI 52.0 in July from 57.4 in June

The CBA one also dropped:

• CBA /Markit Manufacturing PMI for July has come in at 52.4

None of these tend to be too much of an immediate FX mover, but that does not mean they should be ignored. These are surprising slides. Sure, all are still in expansion but sharp drops like this are not a positive for the economy going forward.