- The Australian dollar fell over 1% against the US dollar after what was a very poor Monday for the southern hemisphere heavyweight. Data showed that China’s trade surplus narrowed to $3.08 billion in March from $60.60 billion the previous month. Exports fell by 15% when they had been expected to grow by 9% and imports fell by 12.7%. Experts had predicted the trade surplus to shrink to $45.35 billion last month. Shows by how much experts can get it wrong and this has had a heavy impact on the Australian dollar, as China is Australia’s biggest export partner.
- It was a more positive start to the week for the Japanese economy as a release showed that core machinery orders jumped 5.3% year-on-year in February – well above the expectations for a 3.7% rise.
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