More Poor Data For China: AUD/USD Tanks - Forex News by FX Leaders

More Poor Data For China: AUD/USD Tanks

Posted Wednesday, May 15, 2019 by
Rowan Crosby • 1 min read

There was yet another poor data point out of China this morning, with Industrial Production missing the mark badly.

We saw 5.4 % y/y versus the expected of 6.5% and a prior of 8.5%. So more of the same in terms of the direction.

Retail Sales was also weak at 7.2 % y/y  versus the expected 8.6% and prior  8.7%.

These numbers are ugly with retail sales data as bad as we’ve seen since 2003.

Naturally, the AUD/USD fell away as a result and is now looking at a move into 0.6900.

Given the backdrop of the last few weeks and the US-China trade war battles, this is a timely reminder that the Chinese certainly do need the US, so perhaps they might be a little more forthcoming at the trade table if we continue to see this direction with the data points.

AUD/USD
AUD/USD – 240min.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Inflation increased slightly YoY in Australia during Q2, but cooled off slightly QoQ, leaving a 50 bps hike on the table for the RBA
2 weeks ago
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments