The growth engine of the Chinese economy unexpectedly decelerated last month while Australian retail sales are growing at the weakest pace on record outside one-off economic shocks, putting AUD/USD under renewed pressure on Tuesday. China PMIs soften but not enough to spur stimulus talk: China’s official purchasing managers’ indices (PMI) declined from the levels reported in March, signaling the pickup in activity seen recently may be difficult to sustain. The manufacturing PMI fell to 50.4 from 50.8, although the reading was slightly firmer than the 50.3 level expected. The larger and economically more significant ... (full story)