China’s March Trade data (USD): Surplus beats estimates as imports drop marginally
The China customs published Trade Balance for March in USD terms, reporting a bigger-than-expected increase in the trade surplus and above-forecasts exports and imports data.
In USD terms,
Trade Balance (USD) came in at +19.9B versus +18.00B expected and -7.09B previous.
Exports (YoY): -6.6% vs.-15.0% exp. and -17.2% last.
Imports (YoY): -0.9% vs.-8.0% exp. and -4.0% last.
Additional details
China’s March trade surplus with the US at $15.32 bln vs $25.37 billion surplus in Jan-Feb.
China’s Jan-March trade surplus with the US at $40.77 bln.
AUD/USD keeps the green
Meanwhile, the AUD/USD pair shows little reaction to the upbeat Chinese Trade figures in dollar terms, as it holds the upside above 0.6400.
At the press time, the spot trades at 0.6420, up 0.63% on the day, having hit a new five-week high at 0.6432 in the last hour.
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.
