China's exports unexpectedly rose in December, while imports decreased, suggesting that the weak currency may strengthen the competitiveness of the largest trading nation in the world.
The Australian dollar, the Chinese equity futures and the S & P 500 Index rose after China's trade balance was a surplus of CNY 382 billion above forecasts of CNY 339 billion, which may relieve pressure on weak yuan.
"Despite the market turmoil, the recovery of growth on track thanks to the enforced measures that support the growth of imports," said Daili Wang, an economist at Singapore-based Roubini Global Economics LLC. "The recovery is still fragile."
E.Dimitrov JrTrader
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