China's Three Year Run Of Monthly Trade Surpluses Surprisingly Hits Wall

This is source I found from another site, main source you can find in last paragraph

The Australian dollar has shot back to more than US70¢, buoyed by strong Chinese trade data and after Beijing kept the yuan's reference rate stable for the fourth day.

The Australian bumped to US70.47¢, the highest since last Friday, after trading at lows of US69.74¢ on Wednesday morning. The Australian stood at 82.44 yen, up from a three-year trough of 80.84 against the safe-haven currency. 

The currency edged higher after the People's Bank of China kept the reference rate little changed for the fourth consecutive day. It set the fixing, which restricts onshore moves to a maximum 2 per cent on either side, at 6.5630 a US dollar, 0.18 per cent stronger than the onshore yuan's official closing price of 6.5750 on Tuesday.

The Australian dollar got a boost from Chinese trade data, bumping to US70.47¢, the highest since last Friday.
The Australian dollar got a boost from Chinese trade data, bumping to US70.47¢, the highest since last Friday. Photo: Rob Homer

"There's definitely been a reversal in overly negative sentiment as we've seen some stability in the bank's ability to manage the Chinese economy," Angus Nicholson, a foreign exchange analyst at IG Markets, said.

"The Chinese authorities have been very keen to bring down the spread between the onshore and offshore renminbi this week and they've been really successful at that," Mr Nicholson said.

Australia's currency founds some support on good Chinese export data.
Australia's currency founds some support on good Chinese export data. 

The currencies of nations that depend heavily on commodity exports – including the Aussie – were hammered in the opening days of the year as an eight-day run of reductions in the yuan's reference rate spooked financial markets.

On Wednesday the Australian extended gains on data showing China's exports increased 2.3 per cent in December in yuan terms from a year earlier. Imports extended to a 14-month stretch of declines, falling 4 per cent in yuan terms. A trade surplus of 382 billion yuan ($83.1 billion) remains.

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This is source I found from another site, main source you can find in last paragraph

Source : http://www.smh.com.au/business/markets/currencies/aussie-dollar-pops-on-surprisingly-strong-chinese-trade-numbers-20160113-gm4ut8.html

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