China’s July data dump: Retail Sales, Industrial Production disappoint, AUD/USD tests lows
|China’s July Retail Sales YoY, the number arrived at -1.1% vs. +0.1% exp and -1.8% last, with Industrial Output YoY at +4.8% and +5.1% exp and +4.8% last.
Sales fell for seventh straight months in signs of sluggish consumer demand, although strict nationwide containment measures have been relaxed, per Reuters.
Meanwhile, Fixed Asset Investment YoY stood at -1.6% vs. -3.3% expected and -3.1% last.
China’s January-July Fixed Asset Investment dropped by 1.6% YoY.
Impact on AUD/USD
The mixed Chinese macro numbers served, have little to no impact pressure on the aussie dollar. The AUD/USD pair flirts with daily lows of 0.7135 on the data release, down 0.12% on the day.
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