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China's Trade Balance surplus narrowed in June

Monday, Jul 13 2015
China’s exports rose for the first time in four months in June, providing fresh evidence that growth is stabilizing ahead of gross domestic product data this week. Overseas shipments rose 2.1% from a year earlier in yuan value, the customs administration said in Beijing on Monday. Imports dropped 6.7%, narrowing from the fall of 18.1% previously reported in May, leaving a trade surplus of 284.2 billion yuan ($45.8 billion). However, analysts were anticipating surplus of around $56 billion.
 
The improvement in exports provides a cushion for an economy weighed by a slump in investment growth that is putting Premier Li Keqiang’s 2015 growth target of about 7 percent at risk. As monetary easing and fiscal stimulus stabilize demand, a stronger export sector may help prevent China’s slowdown from deepening after a month-long stocks rout added to challenges.
 
After the data Aussie added few points and is currently being traded around 0.7450 area. Pair is likely to find support around 0.7389 level and resistance above 0.75 handle. There will be no major data releases in the rest of the session.
 
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