China's exports slowed for a fifth month
Data on Tuesday showed China’s exports fell for a fifth month and a slump in imports extended to a record 13 months, clouding prospects for global growth. Trade Balance surplus amounted 343 billion yuan, missing forecasts on surplus of 400 billion yuan. Exports fell 3.7% y/y, also missing expectations on 2.9% decrease. On the other hand, imports fell 5.6%, beating predictions on decline by 11.3%.
The trade data follow a report on Monday that showed foreign-exchange reserves declining last month to the lowest level since February 2013. Inflation data on Wednesday is forecast to show producer price deflation deepened in November.
Aussie is currently being traded around 0.7240 area. Pair is likely to find support around 0.72 handle and resistance above 0.7280 level. There will be no major data releases in the rest of the session.
Last modified on Tuesday, 08 December 2015
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419