China’s Trade Balance for February, in Chinese Yuan (CNY) terms, came in at CNY122 billion, compared to the previous figure of CNY752.91 billion.
Exports climbed by 3.4% YoY in February vs. 10.9% in January. The country’s imports fell by 7.3% YoY in the same period vs. 1.3% registered previously.
In US Dollar (USD) terms, China’s trade surplus expanded in February.
Trade Balance came in at +170.51B versus +104.84B expected and +142.4B previous.
Exports (YoY): 2.3% vs. 5.0% expected and 10.7% previous.
Imports (YoY): -8.4% vs. 1.0% expected and 1.0% last.
Market reaction
The Australia Dollar (AUD) attracts some sellers after China’s trade data. The AUD/USD pair is losing 0.43% on the day to trade near 0.6303, as of writing.
Australian Dollar FAQs
What key factors drive the Australian Dollar?
One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD.
