Chinese GDP and Industrial Production Both Higher

Chinese GDP has come in at 6.4% vs expectations on 6.3% and a prior reading of 6.4%.

While Industrial Production was 8.5% vs 5.6% exp and a prior of 5.3%.

This is arguably the biggest number of the week and certainly has the potential to shape the rest of the session and the week. This is a massive beat on Industrial Production and very rightly the AUD/USD is spiking higher into 0.7200.

This is a positive sign out of China after a fair bit of doom and gloom.

Equities also higher with the ES futures up 5 pts on the news. Look for some follow-through throughout the session and into Europe.