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China's Trade Balance surplus rose to $60.24 billion

Tuesday, Sep 08 2015
China's August exports fell a less than expected 5.5% from a year earlier, while imports declined by 13.8%. That left the country with a trade surplus of $60.24 billion for the month, the General Administration of Customs said on Tuesday, compared with forecasts of $46.80 billion. Analysts had expected dollar-denominated exports to fall 6.0%, after a sharp drop of 8.3% in July, and predicted imports would fall by 8.2%, worsening from a 8.1% drop in July.
 
Global investors will be closely watching China's August data over coming weeks to see if the economy is at risk of a hard landing. Though most economists believe a gradual and prolonged slowdown is more likely, a stock market crash and the unexpected devaluation of the yuan currency in August have heightened concerns about stability in the world's second-largest economy. 
 
Aussie added few points after the data and is currently being traded few points above 0.6950 level. Pair is likely to find support around 0.69 handle and resistance above 0.70 area. There will be no major data releases in the rest of the session.
 
More in this category: « NAB Business Confidence falls again in August Food sales in UK up in August »

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