China: Strong exports and imports data - TDS
|Analysts at TD Securities note that China’s both exports and imports in Oct were much stronger than consensus at 15.6% y/y and 21.4% y/y respectively (mkt 11.7% and 14.5% respectively).
Key Quotes
“Part of the reason is due to extra working days in Korea relatively to last year, while likely front loading ahead of US tariffs also plays a part. The trade balance came in slightly less than expected at $34.01bn versus consensus at $35.15bn.”
“ON a 12m basis, the China trade surplus with the US hit another record at $314.8bn and that with Europe increased to $136.2bn, but it declined further with Japan and the rest of the Asia.”
“No major implications for markets from this data but it does suggest that 1) US pressure on China trade will continue even with a divided Congress and 2) the outlook for China trade going forward will likely deteriorate quickly as forward looking data suggest.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.