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China’s exports jumped the most in a year

Wednesday, Apr 13 2016
China’s exports jumped the most in a year and declines in imports narrowed, adding to evidence of stabilization in the world’s second-biggest economy.  Overseas shipments rose 11.5% in dollar terms in March from a year earlier, compared with a 25 percent slump in February, when factories and offices were closed for a week-long holiday. 
Imports extended declines to 17 months with a 7.6% drop, data showed Wednesday. The trade surplus decreased to $29.9 billion, the least in a year. The export rebound may suggest China’s economy fared better than expected in the first quarter, with data due Friday expected to show a 6.7% expansion for the period. 
 
Aussie is currently being traded around 0.77 area. Pair is likely to find support around 0.7650 handle and resistance above 0.7730 level. Later today, in the US session, Retail Sales and PPI figures are scheduled for a release.
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