China’s Retail Sales unexpectedly rise 4.9% YoY vs. 3.5% expected, AUD/USD tests highs
|China’s October Retail Sales YoY, arrived at 4.9% vs. 3.5% expected and 4.4% previous while Industrial Output YoY came in at 3.5% and 3.0% exp and 3.1% prior.
Meanwhile, the Fixed Asset Investment YoY stood at 6.1% vs 6.2% expected and 7.3% last.
Additional details
China Jan-Oct private-sector fixed-asset investment +8.5% YoY.
China Jan-Oct infrastructure investment +1.0% YoY.
Market reaction
The Australian dollar cheers the positive surprise on the Chinese data, with the AUD/USD pair testing daily highs of 0.7344, at the time of writing. The spot is up 0.14% on the day.
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