by Chris Becker
It has taken a flat CPI result from the Middle Kingdom to knock the Aussie dollar off its perches today, with the latter falling nearly half a cent since the print (including the NAB Business Conditions survey, which suggests more rate cuts on the way).
Here’s the long term chart for context first:
With the year on year print at 1.8%, as expected, a little less than 1.9% last month, while the producers index or PPI came in at -1.7%, mainly due to a drop in extraction and raw materials costs.
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And the Aussie dollar half hour chart showing the breakdown:
