China data dump: Industrial production – a huge beat, Retail sales miss estimates

China’s Jan/Feb (combined) retail sales YoY, the number came in at +9.7 vs 9.8% exp and 10.2% last, with industrial output YoY at 7.2% and 6.2% exp and 6.6% last. Meanwhile, urban investment YoY stood at +7.9% vs 7.0% expected and 7.2% last. 

A huge beat in the industrial figures lifted the upside in the Australian Dollar, driving the AUD/USD pair to daily highs of 0.7872, while AUD/JPY traders firmer, but capped by the 84 handle.