Australian PPI rose by 0.5%

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Friday, May 01 2015

According to the latest release Australian PPI rose by 0.5% in the March quarter 2015. Analysts were anticipating smaller incline by 0.2%. This followed 0.1% growth in the previous quarter. It also rose 0.7% through the year to the March quarter 2015. Intermediate demand fell 0.3% in the March quarter 2015, while preliminary demand fell 0.8% in the March quarter 2015.

The rise is mainly due to rises in the prices received for computer and electronic equipment manufacturing (+7.5%), building construction (+0.8%) and other transport equipment manufacturing (+7.4%). It was partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (–17.0%) and pharmaceutical and medicinal product manufacturing (–12.8%).

Despite the data Aussie was pushed lower, but managed to rebound and is currently being traded around 0.7830 area. Pair is likely to find support around 0.78 handle and resistance above 0.7950 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « China's Manufacturing PMI unchanged in April UK Manufacturing PMI at a seven-month low »

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