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Australian Dollar Shrugs At China CPI, Local Job Data More In Focus
The Australian Dollar was focused squarely elsewhere on Monday and didn’t react much to news that China’s inflation had crept unexpectedly higher in August. Official figures showed that the Consumer Price Index rose by an annualized 2.3% that month, above the 2.1% markets had been expecting, which had also been July’s gain. Producer prices rose by 4.1%, again just higher than the 4% expected. CPI inflation has been creeping up steadily from lows below 1% chalked up in 2016. However it still remains relatively subdued and, in any case, may have been boosted this month by presumably ‘one off’ base effects and ... (full story)