China Stats Bureau Spokesman: Expects China's consumption to maintain steady recovery

After witnessing downbeat Retail Sales and Industrial Production figures for July, China State Bureau Spokesman crossed wires, via Reuters, to placate the bears.

Key quotes

Expects china's consumption to maintain steady recovery.

China's economy will maintain recovery in H2 (second half of 2021).

China's economic growth still within reasonable range.

FX implications

Following the news, AUD/USD remains on the back foot around intraday low around 0.7350.

Read: AUD/USD sellers attack 0.7350 on softer China Retail Sales, Industrial Production