Aussie dollar threatens break out on China trade data

Wednesday 13 April 2016

China’s March trade numbers are out and are a beat with exports up 11.5% versus 10% expected as the commodity crash base effects start to work their way out of the system. Imports were down -7.6% versus -10.1% expected:

And the trade surplus fell heavily to $34.95bn:

The internals were all about big commodity price movements: oil 13.4%, iron ore 6.5%, copper imports 30.1%. Australian imports were down -25.9% versus -35% in February.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.