Australian PPI heavily beat expectations

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Friday, Oct 30 2015

Australian PPI rose 0.9% in the September quarter 2015. Analysts were forecasting 0.3% increase. Producer prices rose 1.7% through the year to the September quarter 2015. Intermediate demand rose 0.7% in the September quarter 2015, while preliminary demand rose 0.6% in the September quarter 2015.

September quarter raise is mainly due to rises in the prices received for building construction (+0.7%), computer and electronic equipment manufacturing (+3.7%) and sheep, beef cattle grain farming and dairy farming (+14.0%). These rises were partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (–8.9%) and electricity, gas and water supply (–1.1%).

Aussie is currently being traded around 0.71 handle. Pair is likely to find support at 0.7080 area and resistance above 0.7130 level. Later today, in the US session, Employment Cost Index figures are scheduled for a release.

More in this category: « US GDP grew by 1.5% in Q3 German Retail Sales unchanged in September »

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