China March Industrial production 8.5% y/y (expected 5.9%)

China March Industrial production … huge beat

IFP in March +8.5%, expected +5.9%

YTD IP 6.5%, expected 5.6%

This is a large beat indeed and is what is driving the China 'proxy' trades higher - AUD getting a big boost, through its session high from earlier and its overnight high.