China’s March Trade data (USD): Surplus beats estimates as imports drop marginally

The China customs published Trade Balance for March in USD terms, reporting a bigger-than-expected increase in the trade surplus and above-forecasts exports and imports data.

In USD terms,

Trade Balance (USD) came in at +19.9B versus +18.00B expected and -7.09B previous.

Exports (YoY): -6.6% vs.-15.0% exp. and -17.2% last.

Imports (YoY): -0.9% vs.-8.0% exp. and -4.0% last.

AUD/USD keeps the green

Meanwhile, the AUD/USD pair shows little reaction to the upbeat Chinese Trade figures in dollar terms, as it holds the upside above 0.6400.

At the press time, the spot trades at 0.6420, up 0.63% on the day, having hit a new five-week high at 0.6432 in the last hour.