China's 0.1% inflation turns $7.18 yuan - trader reveals what this means
Key Points
- China's inflation rose 0.1% in June, ending a three-month de...
China's inflation just crawled back from the dead with a whopping 0.1% rise in June, marking the end of a three-month deflation streak. While economists were betting on zero growth, China delivered the financial equivalent of a participation trophy - technically positive, but nothing to write home about.
The offshore yuan responded to this "stellar" performance by sliding to 7.18 per dollar on July 9th, because apparently even modest inflation can't save a currency when everything else is falling apart. China's Producer Price Index fell 3.6% annually, extending its deflation streak to 33 cons...
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