The market is expecting that Chinese CPI eased from 6.2% to 6.1% in the latest quarter, and if this happens it might be enough to encourage some easier monetary policy from the PBOC. There are still fears of a hard landing in China and authorities are probably keen to introduce some easier policy measures, sooner rather than later. China CPI data due at 02:00 GMT.
A lower CPI number would probably give risk trades like AUD/USD and AUD/JPY a boost.
