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China CPI comes below estimates

FXstreet.com (Barcelona) - China Consumer Price Index for the month of March came below market expectations, with the monthly read at -0.9% vs -0.6% expected in a Reuters poll and +1.1% in February. On a yearly basis, March saw the CPI stand at +2.1% s 2.4% expected, with the prior February read at +3.2. With regards to the China PPI YoY, it came slightly lower-than-expected at -1.9 vs -1.8% estimates and-1.6% the prior month. The data points at moderate inflation pressure, although Michael McDonough, Economist & Bloomberg Brief contributor, notes "it is likely to accelerate as year progresses."

Forex: AUD/USD higher on China CPI

With Australia NAB business conditions “weakest since May09,” says Sophia Rodrigues at MNI, “but conditions, confidence improving in construction,” she adds, and China CPI finally coming out bit worse than expected at +2.1% year on year when +2.4% was expected and coming from previous at +3.2%, AUD/USD is last at fresh weekly highs 1.0446.
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Forex Flash: USD/CAD finds 1.0160 double bottom; upside risks - TDS

FXstreet.com (Barcelona) - USD/CAD has been extremely choppy since Friday, with some wild swings covering a wide area from 1.0100 to 1.0230. Price is last stabilized at 1.0160/65, where a strong base seems to have formed around it, says Shaun Osborne, Chief FX Strategist at TDS, who suggests "the short-term push up may extend a little higher."
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