In the Chinese Yuan, China’s trade balance for the January–February period was CNY 890.8 billion, down from CNY540.90 billion in the previous period.

During the reported period, exports increased substantially by 7.1% YoY, above the 1.9% predicted growth. Meanwhile, the nation’s imports increased 3.5% YoY after earlier rising by 0.2%.

China’s trade surplus increased to $125.16 billion in US dollars, compared to the +75.34 billion in December and the +103.7 billion predicted.

Implications for FX

The positive report did not affect the AUD/USD pair, which maintained modest intraday gains and closed the gap with Wednesday’s nearly two-week high.