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Chinese Trade numbers slump in February

Written by Sam Coxhead on March 10th, 2011.      0 comments

4:30 PM (NZT) Just released Chinese trade numbers for February show a slump in Exports volume growth in February. This could be attributable to Chinese New Year, but the market has reacted by selling the AUD/USD back down to the lows seen after the release of the Australian job numbers.

The lesson in this is that any negative Chinese growth stories are going to materially impact on the value on the AUD and this is something that should be kept in mind, especially as the inflationary pressures in China remain high.

* Feb Trade Deficit $7.3bln From Year Ago (F’cast $4.95bln)
* Feb Exports +2.4 Pct from Year Ago (F’cast +26.2%)
* Feb Imports +19.4 Pct from Year Ago (F’cast +32.2%) 
 

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