Something else to look out for tomorrow besides the PBOC daily yuan fixing
Of note, we’ll be getting the release of key Chinese data for July as per the below:
- Industrial production: +6.0% y/y expected (prior +6.3%)
- Industrial production YTD: +6.0% y/y expected (prior +6.0%)
- Retail sales: +8.6% y/y expected (prior +9.8%)
- Retail sales YTD: +8.4% y/y expected (prior +8.4%)
- Fixed assets investment YTD: +5.8% y/y expected (prior +5.8%)
The above data is scheduled for release at 0200 GMT so just be wary of some potential added volatility to follow in the Chinese yuan – which has been a key risk barometer for markets over the past two weeks – tomorrow.
The releases will come after the PBOC daily fixing, which is usually around 0110-30 GMT.