Although expansion has been faltering in many areas of the economy, data released by the National Bureau of Statistics and the People’s Bank of China overnight added to confidence that policymakers would take the steps necessary to preserve growth. Amid the weakest expansion in decades, the only real disappointment was industrial production which climbed by 9.00% year over year versus expectations of 9.40%. However, despite the one negative mark, the quarterly GDP growth acceleration was enough to defuse some anxiety after rising significantly to 1.80% after printing at 1.10% for the first quarter. The positive developments were accompanied by stronger retail sales figures with annualized spending rose by 10.60% and new loan creation surged by 14.30% over the last twelve months. Risk assets rose across Asia on the news, led by stocks while the USDCNH pair continues to trade nearly unchanged at 6.6909.