China’s Trade data (CNY): Surplus, exports surprise positively, imports disappoint in Jan-Feb

Dhwani Mehta FXStreet

China's Trade Balance for January-February, in Yuan terms, came in at CNY 271.16 billion versus CNY 261.58 billion expected and CNY 329.27 billion last.

Exports came in at +13.9% vs. -6.3% expected and +9% last, while imports arrived at +2.9% vs. +19.1% expected and +17.7% last.

The upbeat Chinese trade data served failed to rescue the AUD bulls, leaving AUD/USD pair in lows just above the 0.67 handle, as the focus shifts towards the US payrolls data.

FXStreet Indonesian Site - new domain!

Access it at www.fxstreet-id.com

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.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.