A series of high impact news to destroy the AUD. Next is Aus Employment and Election time!
China April data disappoint: Retail sales rise 7.2%, industrial output arrives at 5.4%
China’s April retail sales YoY, the number arrived at +7.2% vs. +8.6% expected and +8.7% last, with industrial output YoY at +5.4% and +6.5% expected and +8.5% last. Meanwhile, urban investment YoY stood at 6.1% vs. +6.4% expected and +6.3% last. The downbeat data served had a negative impact on the Australian Dollar, driving the AUD/USD pair to fresh 4.5 month lows at 0.6924, with AUD/JPY revisited daily lows at 78.88 levels.
Added @ 10:11pm
Dismal China data pushes AUD/USD to new 4.5-month low
China macroeconomic data released soon before press time missed estimates, sending AUD/USD down to 0.6923, the lowest level since January 3. The consumer spending, as represented by retail sales, rose 7.2% in April, missing the expected rise of 8.6%. Retail sales had risen by 8.7% in March. Meanwhile, industrial production rose 5.4% in April, having registered 8.5% growth in March. The markets were expecting a print of 6.5%. The below-forecast industrial production and retail sales number confirms the world’s second largest economy lost steam in April and pours cold water optimism generated by the rebound observed in ... (full story)
Added @ 10:14pm
China April Retail Sales Growth Lowest Since May 2003
Added @ 10:17pm
NZD/USD drops to intraday low as China data disappoints antipodeans
NZD/USD printed fresh intra-day low surrounding 0.6565 after China’s April month data added worries for the antipodeans during the initial Asian session on Wednesday. China’s retail sales (YoY) grew below 8.6% forecast and 8.7% prior to 7.2% whereas industrial production also disappointed commodity buyers with 5.4% growth versus 6.5% market consensus and 8.5% previous readout. Moving on, fixed asset investment rose 6.4% from 6.3% on year to date YoY format. Even if the US President Donald Trump’s tweets tried assuring the global investors that Washington and Beijing are friends, news reports from China’s Global Times ... (full story)
Added @ 10:19pm
China NBS Spokesman: China Industrial Output Fluctuations Partly Due To VAT Cut