China’s July data dump: Retail Sales, Industrial Production disappoint, AUD/USD tests lows

Dhwani Mehta FXStreet

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.

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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