Australian PPI up by 0.3%

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Friday, Jul 31 2015

Australian PPI rose 0.3% in the June quarter 2015, slightly above expected incline by 0.2%. The growth was mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+18.2%) and building construction (+0.8%), which were partly offset by falls in the prices received for accommodation (-8.6%) and bakery products (-6.1%). rose 1.1% through the year to the June quarter 2015.

Intermediate demand rose 0.7% in the June quarter 2015. The raise is mainly due to rises in the prices received for oil and gas extraction (+12.6%), petroleum refining and petroleum fuel manufacturing (+11.5%) and motor vehicle and motor vehicle part manufacturing (+6.5%), which was partly offset by falls in the prices received for coal mining (-8.9%). It rose 0.1% through the year to the June quarter 2015.

Preliminary demand rose 0.6% in the June quarter 2015, mainly due to rises in the prices received for oil and gas extraction (+12.4%), petroleum refining and petroleum fuel manufacturing (+11.4%) and grain, sheep, beef and dairy farming (+5.8%), which were partly offset by falls in the prices received for coal mining (-8.9%). It fell 1.0% through the year to the June quarter 2015.

Data did not have any major impact on Aussie which is currently being traded at 0.73 handle. Pair is likely to find support around 0.7250 level and resistance above 0.7350 area. Later today, in the US session, Chicago PMI figures are scheduled for a release.

More in this category: « US GDP rose 2.3% in Q3 German Retail Sales down by 2.3% in June »

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