China’s July Retail Sales and Industrial Output disappoint

Dhwani Mehta FXStreet

China’s July Retail Sales YoY, unexpectedly fall to 2.7% vs. 5.0% expected and 3.1% previous while Industrial Production YoY came in at 3.8% and 4.6% estimated and 3.9% prior.

Meanwhile, the Fixed Asset Investment YoY drops to 5.7% in July vs 6.2% expected and 6.1% last.

Earlier on, the House Price Index dropped 0.9% in July when compared to a 0.5% contraction seen in June.

Additional details

China July survey-based jobless rate for 16-24 years old at 19.9%, the highest on record.

China Jan-July property investment -6.4% YoY.

China Jan-July new construction starts -36.1% YoY.

Market reaction

The Australian dollar meets fresh supply on the release of the downbeat Chinese data. The AUD/USD pair is retreating to near 0.7110, down 0.13% on a daily basis.

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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