The Chinese inflation data fuels concern about the pace of China's post-pandemic recovery.Asian stock markets edges lower on Friday, with all eyes on the release of the US, due later in the American session. Sydney, Hong Kong, and Shanghai stock markets decline while Japanese markets closed on holidays.
In China, the inflation data on Wednesday raised concern about the pace of China's post-pandemic recovery. The Chinese Consumer Price Index YoY fell 0.3% in July from 0% prior. This figure indicated the deflation in China. However, the restrictions would apply to"narrow subsets" of the three domains, but the administration did not provide further details and the proposal is available for public comment.
Looking ahead, all eyes are on the highly anticipated US inflation data due later in the American session. The US Producer Price Index , due later in the day. The figure is expected to rise from 0.1% to 0.7% YoY. Traders anticipate that the data might convince the Federal Reserve that it is now under control and no further interest rate increases are necessary.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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