- Chinese data disappointed across the board; growth was only 7%, retail sales only grew 10.2%, industrial output increased 5.6%, expectation was 7% and fixed asset investment fell to 13.5%. If these figures related to the UK we would be worried about the growth being too high but these figures highlight how the Chinese economy needs to be running at full speed just to maintain stability and as it is now such a key part of the world economy, disappointing Chinese figures can have a significant knock on effect.
- Disappointing consumer confidence from Australia saw it take a mid-week slump against its US counterpart. In a report, the Westpac Banking Corporation stated Australian consumer sentiment fell 3.2% this month, after a 1.2% decline in March.
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