China’s trade surplus increased to $34 billion in October, failing to match forecasts of a $35 billion surplus, as imports surged 21.4% y/y and exports expanded a lesser 15.6%. Between January and October, China’s exports to the US rose 8.7% in yuan terms compared to a year ago, while imports rose just 3.7% in the same period.
The Aussie rebounded from intra-day lows at 0.7265 versus the US dollar after the data, and is currently at 0.7279. AUD/USD is attempting to maintain a foothold above the 100-day moving average, having closed above it yesterday for the first time since March 15
