AUD/USD Drops After China Trade Data Spurs RBA Rate Cut Bets

From dailyfx.com

The Australian Dollar fell against its US counterpart after China released its trade figures in Yuan terms. Exports fell at rate of 6.6 percent year-on-year in January versus economists’ estimate of a 3.6 percent growth and the 2.3 percent reading in December. Imports disappointed as well by contracting 14.4 percent (YoY), lower than the forecasted 1.8 percent growth and the prior decline of 4 percent. The trade balance in Yuan terms was 406.20b, higher than the anticipated 389.01b and the previous figure of 382.05b The currency continued its decline to a small degree when China’s data in US Dollar terms for the ... (full story)