Trial now
USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

MNI (London)

At least two provinces in China have reported new swine fever cases in recent days, according to local media, raising concerns over a virus return, which could drive up pork prices which are heavily-weighted in China's CPI index. The hangover from 2018's African Swine Fever kept pork prices elevated for almost two years, pushing CPI above 5% at one point. However, as the fever dissipated through 2019 and 2020, supply returned to more normal levels, pushing prices lower and CPI eventually troughed at -0.3% in November.

Any reduction in supply will push prices higher, threatening the outlook for China's 2021 inflation outlook.

MNI London Bureau | +44 203-586-2225 | les.commons@marketnews.com
True
MNI London Bureau | +44 203-586-2225 | les.commons@marketnews.com
True