China’s Consumer Price Index (CPI) rose at an annual pace of 0.3% in October after reporting a 0.4% growth in September.
China ’sConsumer Price Index rose at an annual pace of 0.3% in October after reporting a 0.4% growth in September. The market consensus was for a 0.4% increase in the reported period. China ’s ProducerPrice Index fell 2.9% YoY in October, following a 2.8% drop in September. The data came in worse than the marketforecast of -2.5%. Market reaction to China ’s inflation data At the press time,theAUD/USDpairis up 0.03% on the day to trade at 0.6583.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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