FXStreet (Barcelona) – The Brown Brothers Harriman Team previews the Chinese CPI data release ahead, anticipating a rise to 1.3% in June.
Key Quotes
“China reports June CPI Thursday, expected to rise 1.3% y/y vs. 1.2% in May. PPI will also be reported, seen steady at -4.6% y/y.”
“With little in the way of price pressures, we expect the PBOC to continue easing in H2. However, we do not agree with this weekend’s moves to support the equity markets. Given that policymakers are already targeting growth, inflation, and to some extent the exchange rate, adding another target seems misguided, if not downright desperate.”
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