AUD/USD pauses upside amid mixed Chinese data, focus on U.S. PPI and initial jobless claims for further impetus
AUD/USD pauses upside below 200-DMA, trades 0.14% lower at 0.7158 at 0430 GMT. Aussie dented on mixed Chinese CPI and PPI releases amid souring risk sentiment. China’s headline CPI printed at 2.3% y/y, missing the 2.4% m…
AUD/USD pauses upside below 200-DMA, trades 0.14% lower at 0.7158 at 0430 GMT.
Aussie dented on mixed Chinese CPI and PPI releases amid souring risk sentiment.
China’s headline CPI printed at 2.3% y/y, missing the 2.4% market consensus and 1.5% prior, while declining to -0.4% from +1.0% previous and -0.2% expectations on m/m.
However, Producer Price Index (PPI) matched 0.4% market forecast on y/y compared to +0.1% previous.
After upbeat comments on Wednesday, RBA’s Debelle earlier today made no comments on monetary policy or economy.
Technical studies support upside. Traders may now focus on U.S. PPI and initial jobless claims for further impetus.
The US PPI is expected to remain unchanged at 1.9% y/y but could increase to +0.3% from +0.1% on the monthly basis in March.
The Core PPI may soften to 2.4% from 2.5% y/y, whereas on a monthly basis may improve to +0.2% from +0.1% previous outcome.
Also, initial jobless claims for the week ended on April 05 could increase to 211K from 202K.
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