Chinese Retail Sales +8.5% YoY vs 11.5% expected

Chinese Retail Sales arrived +8.5% YoY vs 11.5% expected.

China July industrial production arrived at +6.4% YoY vs +7.8% expected.

Meanwhile, AUD/USD has been off by some 0.2% at the start of the week.

About Retail Sales

The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods.

It reflects the total consumer goods that the various industries supply to the households and social groups through various channels.

It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity.

In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.