- Imports (Dec) Y/Y 6.0% Vs. Exp. 3.5% (Prev. 0.0%)
- Exports (Dec) Y/Y 14.1% Vs. Exp. 5.0% (Prev. 2.9%)
- US replaced EU as largest China export market in 2012, according to statistics head at China customs.
Reaction details (02:19)
- Immediate reaction seen in AUD/USD where price moved up 21 pips from 1.0498 to 1.0519, trades 1.0520 (+6 pips) last.
- Hang Seng immediately spiked higher by 0.36%.
- WTI crude futures immediately moved up USD 0.08 from USD 93.10 to USD 93.18.
- In a continued reaction, 15 minutes after the release the Hang Seng has moved higher to trade with gains of 1% on the day.
- 15 minutes after AUD/USD has moved to its highest level December 18th.
Analysis details (02:14)
- The returning growth volume in the trade balance confirms the rebounding of China's economy, which should contribute to the Q4 GDP figures to be released on January 18th.
10 Jan 2013 - 02:00 - Forex - Source: Newswires
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