Strong April Rebound For China's Trade Surplus

Early this morning the NZD was hit by headlines from the IMF who commented that the NZD is as much as 20% overvalued although its current accommodative monetary stance is appropriate. And from China we saw a huge jump in the trade balance to $11.4 bln from $0.14 bln previously

China's Beat Keeps Commodities Bid

A relatively quiet night in the US and Asian sessions with the commodity market seemingly taking a breather, but still trading with a defiant bid tone. This scenario was aided in large part by data out of China beating street expectations.