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Forex News

Surplus beats estimates as exports unexpectedly jump

The China customs published Trade Balance for January in USD terms, reporting a tad bigger-than-expected increase in the trade surplus and above-forecasts exports and imports data.

In USD terms,

Trade Balance (USD) came in at +39.16B versus +38.64B expected and +47.21B previous.

Exports (YoY): +9.1% vs.-4.8% exp. and +7.9% last.

Imports (YoY): -1.6% vs.-6.0% exp. and +16.5% last.

AUD/USD keeps the red

Meanwhile, the AUD/USD pair ignores upbeat Chinese Trade figures, as it remains pressured by the RBA GDP forecasts downgrade and risk-off sentiment. At the press time, the spot prints a new session low near 0.6710, down 0.27% on the day.  

 

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