AUDUSD Affected by Chinese Trade Balance

Chinese imports and exports fell drastically short of expectations to see Trade Balance at a 13-month low

After a quiet start to the Asia session, Chinese data promptly woke the markets up by printing soft import and export data.

The data set combined saw Chinese Trade Balance at its lowest since March 2014, when it was last in deficit. At 3.1Bn it was nowhere near the 43.4Bn forecast and the lowest surplus in 13 months.

Not only does this again raise concerns over Chinese growth but also the Australian economy. With imports down and Iron Ore at record lows this does not bode well for domestic inflation, at a time when RBA are assessing the cash rate on a month by month basis.

audusd

AUDUSD Trading Account?

Within minutes the Australian Dollar shed 0.9% against the Greenback, which is a move you would expect to see following an entire volatile trading session. To put this into context this is about half of last week’s trading range.

London and NY are yet to react to the news so we may see continued selling at these market opens. As the week progresses traders will focus on Australian employment data, and inflation data from US for further direction.

Let’s get started...

Broker Rating Markets Available Fees Open an Account
Kawase Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 3.60 /5
(15 votes cast)
Loading...
Shares, Indices, Forex and Oil Spread From 0.1 and 0.2% Commission Visit Website
Plus500 Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 4.48 /5
(452 votes cast)
Loading...
Stocks, Commodities, Indices and Forex. Zero commissions. No monthly fees. $10 USD fee for unused account for a period of three months. Visit Website
MaxFx Logo
1 Star2 Stars3 Stars4 Stars5 Stars
Rating 4.69 /5
(88 votes cast)
Loading...
Indices, Forex, Metals, Shares From 0.1 Raw Interbank Spread Visit Website

Related Articles

29.06.2015.

Greece to Dominate Sentiment


03.08.2012.

FX Trade


Risk warning: Your capital may be at risk. CFD trading is suitable for experienced traders and not beginners.