This morning, China reported strong trade numbers for July — exports were up 5 percent from a year earlier. The news is helping quell worries that the world’s second largest economy is slowing down.

“You’re starting to see that a lot of construction is continuing, so you’re going to continue to see commodity prices being a lot stronger than a lot of analysts expected,” says Sean Rein, managing director of the China Market Research Group in Shanghai. “That’s good news for the Australian dollar and a lot of the economies around the world that have grown reliant on China’s fast growth.”