Consumer price index is the Change in the price of goods and services purchased by consumers. This Data is High impact data important for the base metals also important for Crude oil and gold.
Consumer Price Index (CPI) data is Index which is the measure by the change in the price of goods and service purchased by consumers. It is released by every country by National Bureau of Statistics.
Effect: If actual comes better than forecast then it will impact good for the country’s currency.
We are talking about Chinese CPI here which is important for the base metal market. It is released monthly, usually about 11 days after the month ends.
Trader must care about it because consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates.
Importanance: High impact on the currency (cny), Base metals, crude and gold.
Market moves according to fundamental news as well as technical analysis. These kind of data is considering in Fundamentals analysis. Various Data released time to time which effect our market. Traders must know about it.
NOTE: TODAY'S CPI y/y: Actual 1.5% Forecast 1.4%
This is a High impact data which is Important for CNY and Base Metals. According to today's data it is supportive for Base metals.
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