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China trade surplus stronger-than-expected

FXstreet.com (Barcelona) - China April trade balance came at $18.16bn vs. $16.15bn expected. Imports (YoY) in April stood at 16.8% vs 13.9% expected and 14.1% prior, while exports (YoY) came at +14.7% vs 10.3% expected and 10.0% last.

It has been widely reported though that recent China's trade numbers appear to be showing some suspicious discrepancies with what economists believe to be softer imports, thus raising concerns over the quality of data.

Recently, it has been said that "the breakdown of exports by destination veers towards the absurd," IHS economists Xianfang Ren and Alistair Thornton said. "There is plenty of anecdotal evidence to suggest exporters are faking orders" to obtain export-tax rebates, IHS said, cited by the independent.

Forex Flash: Look to add long exposure pullbacks in AUD/JPY – ANZ

After making one more recent attempt at climbing above the key resistance level at 102.50, the pair again failed to achieve any follow through and has since retraced back towards the 100 level. Although the pair has remained range bound since mid April, some analysts believe pullbacks should be bought in anticipations of further Yen weakness in the future.
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Green all over Asian bourses; Nikkei approaches fresh 5-year high

Following better than expected China trade balance figures, reporting a net worth $18.16B surplus, local share markets are extending earlier gains all across the board, lead by Nikkei index that prints fresh almost 5-year highs barely below the 13400 points mark, up +1.25% for the day so far. The last time Nikkei index was this high was back in early June 2008, when it topped at the 14600 points mark.
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