China’s GDP expands 4.8% YoY in Q1 2022 vs. 4.4% expected, AUD/USD uninspired

Dhwani Mehta FXStreet

China's annualized GDP figures for the first quarter of 2022 arrived at % vs. 4.4% expected and 4.0% previous, with the QoQ reading coming in at 1.3% vs. 0.6% expected and 1.5% previous.

With regard to Retail Sales YoY for March, the number was -3.5% vs. -1.6% expected and 6.7% previous while Industrial Output YoY came in at 5.0% and 4.5% expected and 7.5% prior.

Meanwhile, the Fixed Asset Investment YoY stood at 9.3% vs 8.5% YTD (January to March) expected and 12.2% last.

Additional details

China March nationwide survey-based jobless rate at 5.8%.

China March survey-based jobless rate in 31 major cities at 6.0%.

China's economy created 2.85 mln new urban jobs in January-March.

Market reaction

The mixed data had little to no impact on the Australian Dollar, with the AUD/USD pair keeping its range near-daily lows of 0.7382.

The spot was last seen trading at 0.7387, down 0.16% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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