Yuan Extends Losses After China Macro Data Disappoints

China’s yuan extended its early losses, testing down to the fix after headline economic data disappointed across the board.

Industrial Production rose just 5.6% YTD YoY (below the +5.7% exp and down from +5.8% prior)
Retail Sales rose just 7.5% YoY (below the +7.9% exp and down from +7.6% prior)
Fixed Asset Investments rose just 5.5% YTD YoY (below the +5.7% exp and down from +5.7% prior)
Property Investment rose just 10.5% YTD YoY (down from +10.6% prior)

All of tonight’s data missed expectations with only the unemployment rate improving very modestly (falling from 5.3% to 5.2%).