Earlier in today’s session Chinese Trade Balance for the month of September came short of expectations. Chinese trade balance came in at 193Bln CNY compared to a previous 286.50Bln CNY and an expected 266 Bln CNY. However despite the miss the figures were nevertheless quite robust with exports topping 9% in CNY terms. As a reult sentiment in Asia’s major indices remained in positive territory albeit only by a thin margin.
The Aussie, which we are used to seeing taking up the role of the proxy of the Chinese economy due to its economic ties with China also shrugged off the data miss and is currently in the lead when seen against most of its major peers.
The USD closes so far the week in weak territory as traders await some important data later today. This afternoon US reports inflation and Advance retail sales.
The US Dollar index is currently at 92.99 after opening the week at 93.77.
Later this morning we also have German CPI index for the Month of September.
