Note

China’s May data dump: Retail Sales, Industrial Production disappoint – Aussie keeps losses

· Views 664

China’s May Retail Sales YoY, the number arrived at -2.8% vs. -2.0% exp and -7.5% last, with Industrial Output YoY at +4.4% and +5.0% exp and +3.9% last. 

The sales fell for four straight months as shops, restaurants and other crowded places closed during the pandemic.

Meanwhile, Fixed Asset Investment YoY stood at -6.3% vs. -5.9% expected and -10.3% last. 

China’s January-May private sector Fixed Asset Investment improved to -9.6% YoY.

Impact on AUD/USD

The downbeat Chinese macro numbers served, exerted fresh bearish pressure on the aussie dollar. The AUD/USD pair stalled its recovery mode near 0.6840 and eased to 0.6825 levels. The spot loses 0.50% on a daily basis.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.