The Australian Dollar was unmoved against its US counterpart Wednesday despite ongoing gains for Chinese consumer prices, with global geopolitical risk running markets’ table.
The country’s official March Consumer Price Index rose 0.9% on the year, slightly below the 1% gain expected but above February’s 0.8% increase. On the month prices fell 0.3% as crucial food prices slipped 1.5%.
Producer prices for the same month rose 7.6%, just above the 7.5 rise predicted. This series is at six-year highs.
Markets had been looking for a 1% on-month gain after February’s 0.8% rise, and an annualized 7.5% rise.