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Aussie slightly down on weak China's figures

Monday, Aug 10 2015
There were no major data releases from Australia this morning, however, Aussie fell due to weaker than expected China's Trade Balance and CPI figures released over the weekend. China’s producer prices fell in July to the lowest level since 2009, in the latest sign that Premier Li Keqiang must take measures to support growth.
 
The country’s producer-price index fell 5.4% year on year last month, according to the National Bureau of Statistics. The drop, which exceeded the median estimate for a 5% decrease, extends declines to 41 straight months. The consumer-price index increased 1.6% from the year-earlier period, as a surge in pork prices offset sluggish growth in the cost of non-food items.
 
Aussie is currently being traded few points below 0.74 handle. Pair is likely to find support around 0.7350 and resistance above 0.7450 level. There will be no major data releases in the rest of the session. 
 
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