The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
China September imports surpass expectations
In September, China's imports and exports inched up at a faster tempo than in the previous month, thus hinting that the world's number two economy is still extending at a healthy clip notwithstanding numerous forecasts of an eventual slowdown.
Imports in greenback-denominated terms tacked on 18.7% in September from 2016, surpassing experts’ estimates for a 13.5% expansion and speeding up from 13.3% in August, as customs data disclosed on Friday.
The revenue appeared to be firmer than the most optimistic estimates in a Reuters analysts survey.
Exports edged up 8.1% versus estimates of 8.8%, although surpassing August's 5.5%.
The firm September readings are going to be welcome news for China ahead of a crucial political leadership reshuffle next week, suggesting that President Xi Jinping will further tighten his grip on power.
China's imports were mainly led by industrial resources because a year-long construction boom offers no signs of flagging, spurring demand for materials from copper to steel.
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