China’s Retail Sales unexpectedly rise 4.9% YoY vs. 3.5% expected, AUD/USD tests highs

Dhwani Mehta FXStreet

China’s October Retail Sales YoY, arrived at 4.9% vs. 3.5% expected and 4.4% previous while Industrial Output YoY came in at 3.5% and 3.0% exp and 3.1% prior.

Meanwhile, the Fixed Asset Investment YoY stood at 6.1% vs 6.2% expected and 7.3% last.

Additional details

China Jan-Oct private-sector fixed-asset investment +8.5% YoY.

China Jan-Oct infrastructure investment +1.0% YoY.

Market reaction

The Australian dollar cheers the positive surprise on the Chinese data, with the AUD/USD pair testing daily highs of 0.7344, at the time of writing. The spot is up 0.14% 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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