China Retail Sales Miss Expectations as AUD Climbs

China's retail sales growth slowed to 0.6% year-over-year (YoY) in July, missing expectations of 1.5%, according to data released by the National Bureau of Statistics (NBS). This marks a decline from June's 1.0% growth.

In related news, China's Industrial Production rose 4.5% YoY in the same period, lower than the forecasted 5.0%. The country's Fixed Asset Investment also came in weaker-than-expected at -6.7% year-to-date (YTD) YoY, down from June's decline of 5.7%.

The disappointing Chinese data had little impact on the Australian Dollar (AUD), however, which rose 0.53% against the US dollar as the AUD/USD pair traded at 0.7120.