The Australian dollar jumped to one month highs against the US dollar on Wednesday thanks to a much needed mid-week boost. A report by the Australian Bureau of Statistics stated that completed construction had slipped by 0.2% in the fourth quarter of 2014, confounding the expectations of a 1.2% decline. A second release showed that Australia’s Wage Price Index rose last quarter – and both these pieces of data showed positive signs for the Australian economy.
In China the Purchasing Managers Index from HSBC moved into positive territory, the first time in three months, which was good news. However Chinese exports are contracting and input/output prices in the manufacturing sector are falling so we could see deflation being exported from China later in the year.
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