China’s trade surplus expanded in October, data from the General Administration of Customs reported Tuesday. China’s trade surplus rose to 325 billion yuan in October, from 278.4 billion the previous month. Economists forecast the surplus to widen to 300 billion yuan. In US-denominated terms, Beijing’s surplus widened to $49.06 billion from $42 billion in September.
Imports declined at an annualized 1.4%, continuing a multi-year downtrend that was interrupted briefly in August. The value of exports declined at a bigger than expected 7.3% annualized rate, following a 10% drop the month before. Analysts expected imports to fall 1% and exports to drop 6%.
Aussie is currently being traded around 0.77 handle. Pair is likely to find support around 0.7650 area and resistance above 0.7730 level.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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