China's Industrial Production rose less than expected
Industrial output rose 6.1% in August from a year earlier, missing the 6.5% estimate. Investment excluding rural households climbed 10.9% in the first eight months, the National Statistics Bureau said Sunday, versus 11.2% median projection of economists Retail sales rose 10.8% in August, beating the projected 10.6% gain and July’s 10.5% rise.
Factory shutdowns in Beijing and surrounding provinces before a Sept. 3 military parade in the capital may also have contributed to the weaker-than-forecast output reading. "Demand for industrial products from domestic and overseas markets is still on the weak side," Jiang Yuan, senior statistician at NBS, wrote in a statement issued with the report. "Downward pressure on industries is still relatively big."
Aussie is currently being traded few points below 0.71 handle. Pair is likely to find support around 0.7050 level and resistance above 0.7130 area. There will be no major data releases in the rest of the session.
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