Aussie soars smartly after China prices show surprise leap
On Friday, the Australian dollar gained smartly during Asia trade, as prices data in China revealed a shocking leapt, indicating potential demand pressures for major commodities in closely-watched figures covering consumers as well as producers.
The currency pair AUD/USD added 0.38%, being worth 0.7598. USD/JPY traded at 103.88, rising 0.16%.
China posted CPI for September with a profit of about 0.7% month-on-month, quite above the 0.3% pace observed and led by food prices, and a 1.9% surge year-on-year, faster than the 1.6% ascend expected. As well PPI data added 0.1% year-on-year, compared to a dip of 0.3% expected for the first positive surge since February 2012.
Earlier in Japan, the PPI for September dipped 3.2% as expected year-on-year and turned to be flat, compared to a 0.1% month-on-month observed.
Australia's major bank issued a financial stability review, which pointed out to some regional risks in apartment construction.