Yuan Hits Cycle Lows As China Macro Data Disappoints Across The Board

yuan hits cycle lows as china macro data disappoints across the board

After a  fifth straight month of contraction in the shadow banking system…

Yuan Hits Cycle Lows As China Macro Data Disappoints Across The Board

…and the amid the ongoing collapse of its currency, a deluge of major Chinese macro data disappointed notably tonight.

  • Retail Sales missed expectations – rising just 8.8% YoY (against +9.1% exp), slowing from 9.0% in June.
  • Industrial Production also disappointed, rising just 6.0% against expectations of a 6.3% rise.

  • Fixed Assets Investment rose just 5.5% – its lowest on record and well below expectations of a 6.0% rise.

Yuan Hits Cycle Lows As China Macro Data Disappoints Across The Board

It seems China is going to have get that credit impulse ramping back up again…

Yuan Hits Cycle Lows As China Macro Data Disappoints Across The Board

Offshore Yuan is fading back towards last week’s cycle lows.

Yuan Hits Cycle Lows As China Macro Data Disappoints Across The Board

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