China July data dump disappoints: Retail sales drop to 8.8%, industrial output dip to 6.0%

China’s July retail sales YoY, the number came in at 8.8% vs 9.0% exp and 9.0% last, with industrial output YoY at 6.0% and 6.3% exp and 6% last. Meanwhile, urban investment YoY stood at 5.5% vs 6.0% expected and 6.0% last, the latest release by the National Bureau of Statistics (NBS) showed on Tuesday.

Awful Chinese macro numbers intensified China slowdown fears and paused the corrective bounce in the Australian Dollar, sending the AUD/USD pair to the 0.7270 region, while AUD/JPY Is seen back below the 80.50 barrier.