China's Jan inflation figures tick up on Lunar new year factors

China's Consumer Price Index (MoM) (Jan) came at  1.0% vs 0.7% exp and 0.2% last, while Consumer Price Index (YoY) (Jan) was  2.5% vs 2.4% exp and  2.1% last. Meanwhile,  China's Producer Price Index (YoY) (Jan) stood at  6.9% vs 6.3% exp and 5.5% last. The news has acted as a catalyst for a 'risk-on' boost in equities and currencies the likes of the Aussie, while the Japanese Yen reacts to the data by weakening some 10/15 pips across the board. According to Chian's NBS, the CPI increase was mostly driven by factors related to the Lunar new year holidays.