China’s October Trade Balance: Surplus grows marginally amid weak exports and imports
|China's Trade Balance for October, in Chinese Yuan terms, came in at CNY586.81 billion versus CNY565.34 expected and CNY573.57 billion last.
The exports rose by 7.0% last month vs. 14.8% expected and 10.7% previous.
The country’s Imports climbed by 6.8% vs. 6.0% expected and 5.2% prior.
In US Dollar terms,
China reported a marginal increase in the trade surplus, as exports and imports showed an unexpected drop.
Trade Balance came in at +85.15B versus +95.95B expected and +84.74B previous.
Exports (YoY): -0.3% vs. +4.3% exp. and +5.7% prior.
Imports (YoY): -0.7% vs. +0.1% exp. and +0.3% last.
FX implications
AUD/USD is unperturbed by the disappointing Chinese trade figures, keeping its range near 0.6720. The spot is down 0.68% on the day, at the press time.
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