Greek Downgrade Weakens Euro, China & Australia Post Strong Trade Surplus

Trade surplus data from Australia and China were above expectations which boosted markets and risk-appetite built up gradually. China posted surplus of $11.4 Billion, more than three times of estimate of $3.2 Billion as exports climbed 30% and imports slowed down to 22%, boosting the US case for faster Yuan

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