Risky assets cheer up China trade figures

FXStreet (Bali) – China Dec trade balance came at a surplus of 382.05 bn yuan vs 338.8bn expected, with exports YoY at +2.3% vs -4.1% expected and -3.7% last, while imports YoY saw -4% vs -7.9% expected and -5.6% last.

The data is yet another encouraging sign that should underpin riskier assets, including AUD, NZD, equities, while the Yen and the Euro (funding currencies) should come under increased pressure. Earlier in Asia, we saw the PBOC fix the USD/CNY at a stable 6.5630 vs last close 6.5756, which set off the ‘risk on’ environment currently present in Asia.

China December trade balance came at a surplus of 382.05 bn yuan vs 338.8bn expected, with exports YoY at +2.3% vs -4.1% expected and -3.7% last, while imports YoY saw -4% vs -7.9% expected and -5.6% last. The data is yet another encouraging sign that should underpin riskier assets, including AUD, NZD, equities, while the Yen and the Euro (funding currencies) should come under increased pressure.

(Market News Provided by FXstreet)