China data dump: A big miss across all indicators

With regard to China’s retail sales YoY, the number came in at +10.4% in July vs 10.8% exp and 11% last, while industrial output YoY stood at 6.4% and 7.2% exp and 7.6% last. The Chinese July urban investment YoY arrived at +8.3% vs 8.6% expected and 8.6% last. 

The solid data served had little impact on the Australian Dollar, keeping the AUD/USD pair within the close proximity of daily tops of 0.7919, with AUD/JPY remained strongly bid near 86.50 levels.