Eurozone CPI stable at 0.2%

Euro area annual inflation is expected to be 0.2% in August 2016, stable compared with July 2016, according to a flash estimate from Eurostat, the statistical office of the European Union.

Eurozone Final CPI showed 0.2% incline

Euro area annual inflation was 0.2% in July 2016, up from 0.1% in June. In July 2015 the rate was 0.2%. European Union annual inflation was also 0.2% in July 2016, up from 0.1% in June. A year earlier the rate was 0.2%.

China's CPI increased by 1.8%

Also, from China CPI and PPI data was published. Chinese inflation weakened further in July, adding to the central bank’s recent calls for more “innovative” monetary policies that stress liquidity as opposed to further rate cuts. China’s consumer price index (CPI) came in at an annualized 1.8% in July after slowing to 1.9% in June, the National Bureau of Statistics said in a report on Tuesday. The reading was in line with the median estimate of economists. Compared to June, consumer inflation rose 0.2%. The People’s Bank of China (PBOC) targets annual inflation at around 3%.

Rising food costs supported inflation through the first half of the year, with CPI reaching a nearly two-year high of 2.3% in February. That level would be maintained for an additional two months before weakening again in May. Factory-gate prices declined for a 53rd consecutive month in annualized terms, government data showed on Tuesday. The producer price index (PPI) fell 1.7% in the 12 months through July. The rate of contraction in producer prices has eased in each of the past seven months, a sign that the worst of the manufacturing downturn had passed.

Aussie is currently being traded around 0.7640 level. Pair is likely to find support around 0.76 handle and resistance above 0.7680 area.

Eurozone inflation at 0.2%

Euro area annual inflation is expected to be 0.2% in July 2016, up from 0.1% in June 2016, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in July (1.4%, compared with 0.9% June), followed by services (1.2%, compared with 1.1% in June), non-energy industrial goods (0.4%, stable compared with June) and energy (-6.6%, compared with -6.4% in June).