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Weak statistics from China

Weak statistics from China | 17 August 2021

17 August 2021, USD/JPY

Weak statistics from China

USDJPY trading plan:

China's factory output and retail sales growth slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum. Industrial production in the world's second largest economy increased 6.4% year-on-year in July, data from the National Bureau of Statistics showed. Retail sales increased 8.5% in July from a year ago, far lower than the forecast 11.5% rise and June's 12.1% uptick. Asian share markets slipped, after the data showed a surprisingly sharp slowdown in the engine of global growth.

Investment idea: range 109.00 -109.80.

David Johnson
Analyst of «FreshForex» company
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