Industrial Production YTD y/y (CNY) comes in at 5.3%

China’s Industrial Production YTD y/y came in at 5.3%. This figure represents a decrease from the previous reading of 5.4%. No consensus estimate was available for this release.

The USDCNH pair initially moved –1.1 pips five minutes after the data release. Fifteen minutes post-release, the pair was up 0.1 pips. One hour after the release, USDCNH had moved up 6.6 pips. This one-hour move of 6.6 pips is smaller than the median one-hour move of 12 pips observed after past releases of this data. Historically, top-quarter releases have seen moves of 15 pips or more. Directional reliability statistics are not yet available for this event.