China’s January-February Retail Sales YoY, the number arrived at -20.5% vs. +0.8% exp and +8.0% last, with Industrial Output YoY at -13.5% and +1.5% exp and +6.9% last.
Meanwhile, Fixed Asset Investment YoY stood at -24.5% vs. +2.8% expected and +5.4% last.
Key points (via Reuters)
China's industrial output contracted at the sharpest pace in 30 years in the first two months of the year.
Urban investment and retail sales also fell sharply and for the first time on record.
Virus outbreak caused severe economic disruptions.
Could take months to normalise, fresh global worries weigh.
Impact on AUD/USD
The terrible Chinese macro numbers served, failed to deter the AUD bulls, as the AUD/USD pair extends its recovery mode from a new decade low sub-0.61. The spot now trades at 0.6136, down 0.80% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.