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

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.

Exports rose sharply by  7.1%% YoY during the reported month vs. 2.3% seen in January and 1.9% expected. The country’s imports, meanwhile, climbed 3.5% YoY in February vs. 0.2% booked previously.

In US Dollar terms, China’s trade surplus rose to $125.16 billion in February versus the +103.7 billion expected and +75.34 billion previous.

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.