Chinese data from Industrial Production, Retail Sales, Fixed Asset investment due at 0200GMT on Tuesday 14 August 2018

  • Industrial Production y/y expected is 6.3%, prior was 6.0%
  • industrial production YTD y/y expected is 6.6%, prior was 6.7%
  • Fixed Assets (excluding rural) YTD y/y, expected is 6.0%, prior was 6.0%
  • Retail Sales y/y, expected is 9.1%, prior was 9.0%
  • Retail Sales YTD y/y, expected is 9.4%, prior was 9.4%

Some quick snippets from Westpac:

  • retail sales - Consumer was strong in H1; can momentum be sustained?
  • industrial production - PMI's have held up well. Tariffs may bring forward activity
  • fixed asset investment - Market will be hoping for an upside surprise

And this via Nomura:

  • Industrial production growth is likely to remain weak in July after taking a tumble in June, as suggested by a lower production sub-index in the official PMI and a moderation in high-frequency data.
  • Recent policy easing and stimulus measures should be an overall positive for fixed asset investment growth, but the policy effect will be felt with a lag, so we expect investment growth to dip further in July.
  • Retail sales growth is likely to slow as well, partly due to seasonal factors: over the past five years, retail sales growth has slowed by an average 0.3 percentage points from June to July.

ANZ:

  • In China the IP and retail data are usually key releases. In the near term we think that their importance has been overshadowed by the total social financing data as the market watches closely to see the effectiveness of recent easing. That said, they will still be watched, as the market tries to gauge the scale of the slowing that needs to be offset.

(bolding mine)