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Australian PPI fell 0.2% in Q1

Friday, Apr 29 2016
Australian PPI fell 0.2% in the March quarter 2016, missing forecasts on 0.2% increase. The fall was mainly due to falls in the prices received for petroleum refining and petroleum fuel manufacturing (-16.2%), other agriculture (-6.5%) and pharmaceutical and medicinal product manufacturing (-3.0%).
It was partly offset by rises in the prices received for motor vehicle and motor vehicle part manufacturing (+1.4%), newspaper, periodical, book and directory publishing (+4.9%) and building construction (+0.2%). PPI rose 1.2% through the year to the March quarter 2016.
 
Aussie is currently being traded around 0.7660 area. Pair is likely to find support around 0.76 handle and resistance above 0.77 level. Later today, in the US session, Chicago PMI and Revised Consumer Sentiment figures will be published.
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