China's consumer inflation unexpectedly slows
Mihir Kapadia, CEO and Founder, Sun Global Investments
China's consumer inflation unexpectedly slowed in July on continued weakness in food prices and cheaper non-food items, official data showed Wednesday. China's consumer price index in July increased 1.4 per cent from a year earlier, compared with a 1.5 per cent gain in June. The numbers were below the consensus forecast of 1.5 per cent.
The dollar is also a little weaker in Asian trading with the dollar basket (DXY) at 93.55, and has traded through 110 against the JPY. Developed bond markets which have traded in a narrow range recovered yesterday. The 10-year yield is 3 bps lower at 2.25 per cent.