China data dump: A big miss on expectations across all indicators

With regard to China’s retail sales YoY, the number came in at +10.4% in July vs 10.8% exp and 11% last, while industrial output YoY stood at 6.4% and 7.2% exp and 7.6% last. The Chinese July urban investment YoY arrived at +8.3% vs 8.6% expected and 8.6% last. 

The poor data had negative impact on the Australian Dollar, sending the AUD/USD pair lower from the daily tops of 0.7919, with AUD/JPY also following suit to now trade below 86.50 levels.

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