China’s Trade data (CNY): Imports and exports jump sharply in December

Dhwani Mehta FXStreet

China's Trade Balance for December, in Yuan terms, came in at CNY +330 billion versus CNY 315 billion expected and CNY 274.21 billion last.

Exports came in at +9% vs. +2.8% expected and +1.3% last, while imports arrived at +17.7% vs. -1.4% expected and +2.5% last.

For the year 2019, exports are up +5% YoY while imports rose 1.6% while the trade balance came in at CNY +2.92 trillion.

Trade between the US and China decreased by 10.7% YoY in 2019.

The upbeat Chinese trade data served failed to impress the AUD bulls, leaving AUD/USD pair in lows around 0.6890 region, as the focus remains on the US-China trade deal signing.

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.

GBP/USD declines to near 1.3350 as US launches strikes on Iran

The GBP/USD pair loses traction to near 1.3355 during the Asian trading hours on Wednesday. The US Dollar edges higher against the British Pound amid renewed geopolitical tensions after the US renewed strikes on Iran. The Federal Reserve’s June meeting minutes will be published later on Wednesday.

EUR/USD struggles above 1.1400 amid fresh US strikes on Iran ahead of FOMC Minutes

The EUR/USD pair defends the 1.1400 mark during the Asian session on Wednesday, though it struggles to attract any meaningful buyers on the back of renewed US-Iran hostilities. Traders also seem hesitant and opt to wait for FOMC Minutes for more cues about the Federal Reserve's policy path before placing fresh directional bets.

Gold edges higher; hawkish Fed and US-Iran tensions to cap gains

Gold edges higher during the Asian session on Wednesday and, for now, seems to have snapped a two-day losing streak after falling to sub-$4,100 levels, or the weekly trough touched the previous day. The US Dollar struggles to build on a modest uptick as bulls turn cautious ahead of the release of the June FOMC meeting Minutes.

Pi Network crashes to a record low amid broader market stress

Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.

WTI holds above $72.00, near two-week high amid fresh US-Iran tensions

West Texas Intermediate (WTI) struggles to capitalize on the previous day's strong move up and enters a bullish consolidation phase near a two-week high, touched during the Asian session this Wednesday. The black liquid currently trades just above the $72.00 mark, with bulls awaiting a sustained strength beyond a technically significant 200-day SMA amid renewed US-Iran hostilities.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.