Chinese Inflation on Track

Posted Thursday, May 9, 2019 by
Rowan Crosby • 1 min read

China has released its inflation data this morning and the numbers are relatively in line with expectations.

CPI in line at 2.5% YoY with the expected 2.5% and prior 2.3%.
PPI was actually higher than expected at 0.9% YoY vs 0.6% exp and prior of 0.4%.
A small win for China today on the back of everything that is going on. The AUD/USD is relatively unmoved on the news, although it is really only second tier data.
Trump has also been back tweeting this morning suggesting that China has tried to claw back on the entire deal to date. But then said to not worry as they will work it out. More mixed messages really and at this point, it is hard to tell who or what to believe here.

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