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Australian PPI up less than expected

Friday, Jan 29 2016
Australian PPI rose 0.3% in the December quarter 2015. Analysts were anticipating 0.6% increase. Rise was mainly due to rises in the prices received for building construction (+0.5%), other transport equipment manufacturing (+3.0%) and sheep, beef cattle grain farming and dairy farming (+5.4%). It was partly offset by falls in the prices received for petroleum refining and petroleum fuel manufacturing (–12.1%). PPI rose 1.9% through the year to the December quarter 2015.
 Intermediate demand fell 0.2% in the December quarter 2015. Rise was mainly due to falls in the prices received for petroleum refining and petroleum fuel manufacturing (–6.5%), oil and gas extraction (–6.3%) and electrical equipment manufacturing (–4.0%). It was partly offset by rises in the prices received for textile, clothing, footwear and leather manufacturing (+1.7%), real estate services (+1.9%) and accommodation (+6.5%).
 
Aussie is currently being traded around 0.71e0 area. Pair is likely to find support around 0.7080 handle and resistance above 0.7180 level. Later today, in the US session, GDP, Chicago PMI and Revised Consumer Sentiment figures are scheduled for a release.
More in this category: « Durable Goods Orders down by 5.1% Spanish CPI fell to -1.9% »

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