China: Important Inflation Numbers Out – Deutsche Bank
Research Team at Deutsche Bank, suggests that there were important inflation numbers out of China this morning.
Key Quotes
“CPI
for the month of March has printed at +2.3% yoy which was a smidgen
below expectations (of +2.4%) but flat on the prior month which was then
the highest since July 2014 and will likely provide for some comfort
that the data is stabilising.
Meanwhile the latest PPI numbers
continue to show improvement after printing at -4.3% yoy (vs. -4.6%
expected), and up six-tenths from the prior month. While factory gate
prices remain yet again in negative territory, the +0.5% mom reading is
the first positive monthly rise in prices since 2013.
Looking at
the market reaction, sentiment appears to be buoyed in China post the
data where the Shanghai Comp and CSI 300 have bounced +1.71% and +1.74%
respectively. Elsewhere, it's a bit more mixed.”
(Market News Provided by FXstreet)
