The disappointing Chinese first quarter GDP data released earlier today has provided some support to safe haven currencies in this trading session. With US policymakers signaling that interest rates are likely to remain low through 2014, markets will eye US consumer price inflation data due later today. Coupled with Reuters/Michigan consumer sentiment data later this afternoon, these releases should provide food for thought for those Federal Reserve’s officials who are currently considering further quantitative easing.
At home, both input and output producer price inflation have eased for March, highlighting that price pressures in the economy are decelerating somewhat.
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