Published: 2024-02-08T05:43:50.000Z
AUD/USD flows: Balanced by soft Chinese inflation and solid Chinese equity

FX Analyst
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China January CPI +0.3% m/m. -0.8% y/y
The Chinese CPI missed both m/m and y/y. Looking at the bright side, you will see monthly improvement from 0.1% to 0.3% while y/y sunk to -0.8% from -0.3%. Yet, it does not seem to dim the hopium springing in the Chinese equity market. The Chinese equity market continue to sprout three days in a row before the Lunar New Year holiday, on hope of stimulus from the Chinese government that has been mentioning for a month yet without concrete action.
The AUD/USD is well balanced at 0.6521, 0.01% higher for the session.