The Traderszone Network

Published in TZ Latest News 13 April, 2015 by The TZ Newswire Staff

Weak China trade data hammers Aussie, weighs on Europe shares

The Australian dollar fell nearly 1.5 percent after the data from China, which is the main market for Australia’s exports of natural resources. Adding to the gloom for the Aussie, the World Bank also cut its 2015 growth forecasts for developing East Asia and China. “All of that provides quite a negative picture for the Aussie, particularly as the data we had overnight was very much driven by a decline in exports, which is going to be seen as quite a negative factor for the region,” said Ian Stannard, head of European FX strategy at Morgan Stanley in London.

read more