China's exports rose despite investors' negative expectations for expensive Yuan and tensions with the United States.
Here are the key figures of the fastest growing economy in the world:
Export: +6.0%
Imports: +30.2%
Trade balance: +$21.6bn.
China's external demand remained unchanged amid global growth, which managed to offset Yuan's appreciation. On the other hand, the political friction between China and the US has led to increased imports of the country. A large number of companies operating in China have chosen to play safely and increase their stockpiles.
According to Wang Tao, Chief Economist at UBS, commercial friction is likely to increase this year, but a trade war between the US and China is very unlikely.
The data are good for AUD and NZD, and we expect them to get support in the first hours of the European session.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.