Published: 2024-06-12T03:45:25.000Z
AUD/USD flows: Looking at the brightside of Chinese Inflation Report
FX Analyst
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China May CPI +0.3% y/y, expected +0.4% and PPI -1.4% y/y, expected -1.5%
China may introduce additional measures to boost housing market in Third Plenary Sessions
The headline Chinese CPI for May has come in lower than estimate at 0.3% y/y and contracted by 0.1% m/m. But market participants seems to be focused on the improving PPI, which rose from -2.5% to -1.4% y/y, a government led improvement.
Regional sentiment is still soft while U.S. three major equity indexes are in the green. AUD/USD is trading 0.16% higher at 0.6616.