AUD/USD has lifted modestly off the Asian session low of 1.0155, boosted by China posting a larger than expected trade surplus of $18.2bn. in April. Chinese imports of iron ore were 63.5mn tons in April or 10% more than the same month last year. In value terms, China imports from Australia were up 11.1%(YoY) in April. Imports from Australia over the Jan-April 2013 period are up 8.5%(YoY) compared to the same 4 month period in 2012.
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Commonwealth Bank