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China's CPI up by 2% in May

Thursday, Jun 09 2016
China's consumer price inflation in May rose 2.0 percent from a year earlier, the National Bureau of Statistics said on Thursday, below market expectations. Analysts polled by Reuters had predicted the consumer price index (CPI) would rise 2.3 percent, the same pace as in April.
Producer prices in May fell 2.8 percent from a year earlier, compared with market expectations for a drop of 3.3 percent and a decline of 3.4 percent in April. Deflationary pressures in China were a major concern for financial markets and the central bank for much of 2015, but the trend began showing signs of improving late last year.
 
Aussie is currently being traded few points above 0.7440 level. Pair is likely to find support around 0.74 handle and resistance above 0.7480 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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