China’s Trade Balance: Surplus widens more than expected in February amid a surge in exports

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China’s Trade Balance: Surplus widens more than expected in February amid a surge in exports
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China's Trade Balance for February, in Chinese Yuan terms, came in at CNY 890.8 billion, widening from the previous figure of CNY540.90 billion.

China's Trade Balance for the January-February period, in Chinese Yuan terms, came in at CNY 890.8 billion, as compared to the previous figure of CNY540.90 billion. Exports rose sharply by 7.1%% YoY during the reported period, higher than the 1.9% expected. The country’s imports, meanwhile, climbed 3.5% YoYvs. 0.

2% booked previously. In US Dollar terms, China’s trade surplus rose to $125.16 billionversus the +103.7 billion expected and +75.34 billion in December. FX implications The AUD/USD pair reacts little to the upbeat data and sticks to its modest intraday gains just below a nearly two-week high touched on Wednesday. .

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