A quiet start to the trading week that saw the US Dollar range bound -vs- the majors. China's second quarter GDP came out at +7.5% which was in line with market expectations but was weaker than the +7.7% reading posted last quarter. June Retail sales rose at an annual rate of +13.3% which was stronger than estimates of +12.9%. while the annual rate for Industrial production fell to +8.9% -vs- forecasts of +9.1%. The data confirms that growth in the worlds' second largest economy is in the midst of a slowdown as the government tries to avert a financial crisis by clamping down on the expansion of credit.
China 2Q GDP
China Retail Sales