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Investors eyeing developments in China

Though, there were no data releases from Australia on Tuesday, investors are monitoring developments in China. Despite recent stability in Chinese renminbi, concerns over the outlook for the currency persist across financial markets. The sudden devaluation of the currency in August last year, something many speculate was due to a sharp deceleration in economic growth, rattled financial markets at the time, causing widespread declines in risk assets across the globe. Read more...

China's trade surplus at a record high

A slide in China’s exports in January was eclipsed by an even bigger tumble in imports, leaving a record trade surplus for the world’s biggest trading nation. Overseas shipments declined 11.2% in January in U.S. dollar terms from a year earlier, the customs administration said on Monday, compared with a 1.4% drop in December. Imports extended a stretch of declines to 15 months, tumbling 18.8%, leaving a record trade surplus of $63.3 billion.  Read more...

Aussie lower in a quiet overnight trade

There were no data releases from Australia this morning, with traders  mostly paying attention to developments in China and commodity prices. After a rebound on Friday and early Monday, crude prices fell back below $30 a barrel, not far from last week's 12-year lows, ending a couple of days of gains for Wall Street stocks.  Read more...

Aussie above 0.70 handle

There were no data releases from Australia this morning. Uncertainty across financial markets has led to the safe haven demand for the yellow metal, pushing Aussie up. Oil prices and global equity markets rebounded, following a turbulent few days that wiped trillions of dollars off asset values, though it was unclear whether the vigorous selling action had come to an end. Physical gold demand in Asia slowed this week as prices rose, curbing seasonal buying in China ahead of a long holiday and forcing sellers in India to offer a discount. Read more...

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