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12 Feb 2014
AUD/USD jumps after China trade data
FXStreet (Córdoba) - The AUD/USD jump from 0.9015 to 0.9058 reaching a fresh 4-week high following a bigger-than-expected trade surplus in China. Exports during December rose 10.6% while imports climbed 10%.
After the report, commodity currencies gained momentum, particularly the Aussie. The AUD/USD remains near the highs with bullish momentum, approaching January highs that lie at 0.9084.
Before the report the report the pair was moving in Asia to the downside, trimming Tuesday’s gains. Before jumping above 0.9050 bottomed at 0.9005. Now it has risen 300 pips since the beginning of February.
After the report, commodity currencies gained momentum, particularly the Aussie. The AUD/USD remains near the highs with bullish momentum, approaching January highs that lie at 0.9084.
Before the report the report the pair was moving in Asia to the downside, trimming Tuesday’s gains. Before jumping above 0.9050 bottomed at 0.9005. Now it has risen 300 pips since the beginning of February.