According to the report published by China’s office for national statistics yesterday, the country’s consumer inflation reached 3.6% in March. According to Reuters, the inflation growth unpleasantly surprised investors. The growth is believed to be caused mainly by higher foodstuff prices.
The CPI (m/m) increased by 0.2% in March versus February’s 0.1% decline. Analysts had anticipated no changes. The PPI declined by 0.3% last month.
Despite the recent increase, investors still expect the rate of inflation to be declining throughout 2012.
Forex.
According to , USDCNY is being flattish. The price is fluctuating within the 6,2905-6,317 range. A breakout of the range will define the direction of the future short-term trend. The closest level of resistance is 6,3260.
