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China's Industrial Production grew in April

Wednesday, May 13 2015
China's Industrial output rose 5.9% in April from a year earlier, slightly below expectations on 6.1% increase but up from March's 5.6%. Non-rural fixed-asset investment rose 12% in the Jan-April period, missing forecasts for 13.5%. Retail sales rose 10%, also missing predictions. Premier Li Keqiang is opening the monetary tap to stem an economic slowdown, with the third interest rate cut in the last six months announced on Sunday. Today’s data suggests the previous measures have started to show some effects on growth.
 
Earlier today, Australian quarterly Wage Prices index data was released. Seasonally adjusted index for Australia rose 0.5% in the March quarter 2015, missing expectations on 0.6% incline. The Private sector rose 0.4% seasonally adjusted, and the Public sector rose 0.5%.The rises in indexes at the industry level ranged from 0.1% for Administrative and support services to 1.0% for Education and training.
 
Data did not have major impact on the markets, with Aussie easing few points currently being traded around 0.7970 area. Pair is likely to find support at 0.79 handle and resistance above 0.80 handle. Later today, in the US session, Retail Sales figures are scheduled for a release.
More in this category: « Job openings fell in health care and social assistance French GDP up by 0.6% in Q1 »

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