Slow boat from China
Tuesday 16th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The Aussie dollar has retreated from the gains at the end of last week, after a slowdown in China’s retail sales, industrial output and fixed asset investment. All grew well below expectations, as COVID continues to influence behaviour and, clearly, buying habits. We’ve also seen a big drop in oil overnight. NAB’s Ray Attrill says the fall is a combination of the weaker China data and signs that an Iran nuclear deal could be getting closer, which would see more oil…
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