China further points to recover as exports rose 7.2% in August year-on-year and far above the 5.5% economists expected while imports rose less than expected which caused China’s trade surplus to rise by $28 billion. There was a lot of concern that China may be in for a hard landing, but either the stats are meddled with or at least for now some of the fears have been put to rest.
This should lift commodity currencies such as the AUDUSD which has already enjoyed a nice bounce and I would look forward to a higher Australian Dollar. It looks like the economic situation in China may be rebounding or at least pointing into the right direction.
This should lift commodity currencies such as the AUDUSD which has already enjoyed a nice bounce and I would look forward to a higher Australian Dollar. It looks like the economic situation in China may be rebounding or at least pointing into the right direction.
