China's CPI increased by 1.4%

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Thursday, Jul 09 2015

China's consumer inflation edged up slightly in June while stubbornly weak producer prices fell again, data that could affirm worries about a sluggish Chinese economy which is also smarting from a share market rout. China's consumer inflation quickened to 1.4% year-on-year in June, beating market expectations on increase by 1.3%.

However, the producer price index fell 4.8% in June from a year earlier, the National Bureau of Statistics said on Thursday. The market had expected producer prices to decline 4.6%. Producer prices are now at a four-month low and extend the run of negative growth to a record 40 months, highlighting the problems of widespread industrial overcapacity.

The People's Bank of China on Thursday provided liquidity to China Securities Finance Corp via re-lending at its request, state-run Xinhua News Agency reported.The PBOC will also let the CSFC issue financial bonds, including short-term commercial paper in the interbank market, and pledged to continue to provide liquidity support to CSFC via various channels. The Shanghai Composite index gained 2.35% in morning trade.

After the data Aussie was pushed higher and is currently being traded few points above 0.7470 level. Pair is likely to find support around 0.7420 and resistance above 0.7520 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.

More in this category: « Aussie higher on Australian job data German Trade Balance suficit rose to 22.8 billion euros »

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