Forex news for Asia trading Friday 14 October 2016
The CPI for China in September beat expectations, but of even more note was the PPI coming in at a non-negative for the first time since January of 2012, nearly 5 years. Higher coal and steel prices cited, and perhaps an indication of the reduction in over-capacity (though more evidence will be needed for this). The higher PPI is also a sign that profitability for Chinese firms may be taking a turn for the better. Again, we’ll need to see more evidence, but a good sign in the data today.