China’s Jan-Feb Trade data (USD): Surplus beats estimates as exports unexpectedly jump

Dhwani Mehta FXStreet

The China customs published Trade Balance for January-February in USD terms, reporting a tad bigger-than-expected increase in the trade surplus and above-forecasts exports and imports data.

In USD terms,

Trade Balance (USD) came in at +39.16B versus +38.64B expected and +47.21B previous.

Exports (YoY): +9.1% vs.-4.8% exp. and +7.9% last.

Imports (YoY): -1.6% vs.-6.0% exp. and +16.5% last.

China Customs office said it combined Jan-Feb trade data while responding in a statement about the lack of Jan preliminary trade data on Friday.

AUD/USD keeps the red

Meanwhile, the AUD/USD pair ignores upbeat Chinese Trade figures, as it remains pressured by the RBA GDP forecasts downgrade and risk-off sentiment. At the press time, the spot prints a new session low near 0.6710, down 0.27% on the day.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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