Disappointing Chinese Retail Sales Prompts AUD/JPY Decline
Talking Points:
- Chinese Data Fuels Concerns over a Slowdown in Economic Growth
- Australian Dollar Falls vs the Japanese Yen Following the Data
- Copper Soars Ahead Of China Data, Gold Bounces Off Key Support
Chinese Retail Sales figures reported worse-than-expected immediately prompting a bearish reaction in AUDJPY. The gauge of consumer spending in the economy rests at the lowest level since 2011 adding to concerns over a slowdown in economic growth in China. Retail Sales, Industrial Production and fixed investment data is a useful gauge of underlying growth based-based measures.
|
Currency |
Release |
Actual |
Survey |
Previous |
|
CNY |
Industrial Production YTD (YoY) (APR) |
8.7% |
8.7% |
8.7% |
|
CNY |
Industrial Production (YoY) (APR) |
8.7% |
8.9% |
8.8% |
|
CNY |
Retail Sales YTD (YoY) (APR) |
12.0% |
12.0% |
12.0% |
|
CNY |
Retail Sales (YoY) (APR) |
11.9% |
12.2% |
12.2% |
|
CNY |
Fixed Assets Ex Rural YTD (YoY) (APR) |
17.3% |
17.7% |
17.6% |
Earlier this week copper prices soared on speculation over the loosening of restrictions on capital flows into China.
AUD/JPY 5-Minute Chart. May 13, 2014. Charted created using FXCM Marketscope 2.0.
-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to [email protected].
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