for the next few hours, investors will be holding their breath in anticipation of China’s latest economic reports. Last night’s larger than expected Chinese trade surplus sent most of the major currencies sharply higher despite concerns about the level of import and export growth. Their trade surplus nearly doubled in the month of April from $9.9 billion to $18.4 billion. However export and import growth slowed materially, raising widespread concerns about the growth in China. Tonight inflation, industrial production and retail sales numbers are scheduled for release.
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