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China Imports and Exports Surge ahead of Tomorrows Signing


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Earlier in the Day:

It was a busy day on the Asianeconomic calendarthis morning. Key stats included building consent and business confidence figures out of New Zealand and trade data out of China.

For the Kiwi Dollar

TheNZIER Quarterly Survey of Business Survey (QSBO)showed that a net 21% of businesses expect a deterioration in general economic conditions over the coming year. In the 3rdquarter, a net 40% of businesses had expected a deterioration.

  • In the 4thquarter, a net 20% of manufacturers expect worsening economic conditions, improving from 52% in the 3rd
  • Across the services sector, a net 26% of firms expected deterioration in economic conditions. The services sector was the most pessimistic of the sectors in the quarter.
  • Weak profitability left firms cautious over expansion plans, and investments in buildings in particular. A net 10% of firms were looking to reduce investments in buildings in the coming year. By contrast, firms were more positive when it came to hiring in the next quarter.

The Kiwi Dollar moved from $0.66339 to $0.66306 upon release of the figures.

Building consents slid by 8.5% in November, following on from a 1.3% decline in October. Economists had forecast a 2.1% rise.

The Kiwi Dollar moved from $0.66303 to $0.66304 upon release of the figures. At the time of writing, theKiwi Dollarwas down by 0.06% to $0.6627.

Out of China

Chinas trade surplus widened from $37.93bn to $46.79bn in December. Economists had forecast a widening to $48bn.

  • Exports rose by 7.6% in December, year-on-year, reversing a 1.3% decline in November. Economists had forecast a 3.2% increase.
  • Imports jumped by 16.3% in December, year-on-year, following on from a 0.5% increase in November. Economists had forecast a 9.6% rise.

The Aussie Dollar moved from $0.68933 to $0.68983 upon release of the figures. At the time of writing, theAussie Dollarwas down by 0.09% to $0.6898.

Elsewhere

At the time of writing, theJapanese Yenwas down by 0.12% to 110.08 against the greenback.

For the full article:

https://www.fxempire.com/news/article/china-imports-and-exports-surge-ahead-of-tomorrows-signing-625604



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