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China's CPI unchanged in March

Friday, Apr 10 2015
The consumer price index (CPI) rose 1.4% on year, above expectations of a 1.3% and following a 1.4% rise in February. A plunge in oil prices, weak consumption and a slowing property sector have driven prices lower in recent months, even as China's economy braces for slower growth this year. 
 
Wholesale prices, or the producer price index (PPI), fell 4.6% in March, better than the average forecast of a 4.8% decline, and after dropping 4.8% in February. Beijing last month set a growth target of around 7% for this year. China's economy expanded 7.4% in 2014, its slowest pace in 24 years.
 
After the data, Aussie was pushed lower and is currently being traded around 0.77 handle. Pair is likely to find support around 0.7650 area and resistance above 0.7730 level. There will be no major data releases in the rest of the session.
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