A weaker-than-expected China data released at 02:00 GMT pushed the AUD/USD lower to the 10-day moving average support of 0.6779. China consumer spending, as represented by retail sales, rose to 7.6% year-on-year in July, missing the forecasted rise of 8.6% by a big margin. The retail sales rose by 9.8% in the preceding month. Meanwhile, industrial production growth slowed to 4.8% year-on-year in July, also missing the expected rise to 5.8% and down from the preceding month's print of 6.3%. The slowdown in the industrial production is hardly surprising, given the world's second-biggest economy is embroiled in a trade ... (full story)

Growth of China’s industrial output slowed much more than expected to 4.8% in July from a year earlier, official data showed on Wednesday, in the latest sign of faltering demand in the world’s second-largest economy as the United States ramps up trade pressure. The July pace was the slowest since Feburary 2002. Analysts polled by Reuters had forecast industrial output would rise 5.8% from a year earlier, slowing from 6.3% in June. Fixed-asset investment for the first seven months of the year rose 5.7%, according to data published by the National Bureau of Statistics, compared with a 5.8% rise forecast by analysts. ... (full story)