Key Moments
- AUD/USD trades around 0.6890 during Asian hours after rebounding from two consecutive daily declines.
- China’s October CPI rose 0.7% YoY and 0.0% MoM, while PPI increased 5.7% YoY, all exceeding or matching market expectations.
- Despite Fed hike odds near 80% for December, a weaker US Dollar and falling Treasury yields limit additional Dollar support.
Australian Dollar Extends Recovery Against the Greenback
AUD/USD is edging higher around 0.6890 in Asian trading on Monday, recovering after two straight sessions of losses. The move comes as the Australian Dollar (AUD) maintains a firmer tone following the latest inflation figures from China, a key trading partner for Australia.
The pair is also benefiting from softness in the US Dollar (USD), which is easing even as market-based expectations for further Federal Reserve tightening remain elevated.
China Inflation Data Beats Expectations
China’s Consumer Price Index (CPI) increased 0.7% year-on-year in October, after a 0.9% rise in September. The reading fell short of the 0.8% market consensus but still reflected ongoing price gains compared with a year earlier.
On a month-on-month basis, Chinese CPI was flat at 0% in October, in line with expectations, following a 0.2% increase in the previous month.
Producer prices showed stronger momentum. China’s Producer Price Index (PPI) climbed 5.7% year-on-year in October, up from a 5.0% gain in September and above the consensus forecast of 5.3%.
| China Inflation Data – Latest Release | |||
|---|---|---|---|
| Indicator | Actual | Consensus | Previous |
| CPI YoY (October) | 0.7% | 0.8% | 0.9% |
| CPI MoM (October) | 0.0% | 0.0% | 0.2% |
| PPI YoY (October) | 5.7% | 5.3% | 5.0% |
According to the release details, the Consumer Price Index (YoY) is published monthly by the National Bureau of Statistics of China and tracks changes in the price level of goods and services purchased by residents. It is a key gauge of inflation and shifts in spending patterns. A stronger reading is generally regarded as supportive for the Renminbi (CNY), while a weaker figure is typically seen as negative.
| China CPI (YoY) – Release Details | |
|---|---|
| Last release | Mon Nov 09, 2026 01:30 |
| Frequency | Monthly |
| Actual | 0.7% |
| Consensus | 0.8% |
| Previous | 0.9% |
| Source | National Bureau of Statistics of China |
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