The offshore yuan held steady for the second consecutive session at around 7.12 per dollar on Wednesday, as investors digested the latest inflation data. Annual consumer prices fell 0.4% in August, following a flat reading in July and worse than market expectations of a 0.2% decline. Meanwhile, producer prices dropped 2.9% yoy in August, easing from a 3.6% fall in the prior month and in line with forecasts. This marked the 35th straight month of producer deflation, but also the smallest contraction since April. The latest figures reflect government efforts to stimulate domestic demand and curb excessive competition and price-cutting in key industrial sectors. Investors are now closely watching key developments as China’s 14th NPC Standing Committee holds its 17th session from today through Friday. On the global front, US President Trump urged the EU to impose 100% tariffs on Chinese and Indian goods to pressure Russia, with Washington signaling readiness to implement similar measures.
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