China's inflation rate has dropped to 2.0 per cent year-on-year in February, down from 2.5 per cent in January.
The Lunar New Year holidays are being blamed for an an unexpected trade deficit of $US22.98 billion in China in February.
Oil prices have closed up on Friday.
Stocks on Wall Street have finished the day mixed.
Early gains in the European markets sunk rapidly as Russian energy giant Gazprom threatened to cut off gas exports to Ukraine.
London's benchmark FTSE 100 index edged up 0.02 per cent to 6,790.09 points and Frankfurt's DAX 30 nudged down 0.05 per cent to 9,538.45 points.
The Australian dollar is higher on easing expectations of another central bank interest rate cut and better economic data.
The sharemarket has lifted as investors look past the Ukraine crisis and concentrate on encouraging economic data.
Stockwatch Week to March 7
RBA governor Glenn Stevens has acknowledged that he's not sure whether the transition away from the mining investmnt boom will proceed smoothly.
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