(13 April 2016 – China) China has posted stronger-than-expected trade data for March.
The data saw exports rising more than forecasted, and imports softening by less than predicted. China reported exports increased by 11.5 percent year on year — the first increase since June 2015.
Importantly for Australia, Beijing reported that imports of iron ore rose 6.5 per cent year-on-year in volume terms in the first quarter. Additionally, crude oil imports rose by 13.4 percent over the same period. China imported nearly a third more copper compared to the prior period.
The news reverberated around global markets.
The Australian dollar rose to US$0.77 while Europe's main indices rose as much as 2 percent in the early part of trading, Asian stocks extended their winning streak to the longest in half a year.