China’s Aug Trade Balance (CNY): Surplus beats with CNY416.59 billion as exports jump
|China's Trade Balance for August, in Yuan terms, came in at CNY416.59 billion versus CNY196.21 billion expected and CNY442.23 billion last.
August exports came in at +11.6% vs.+2.1% expected and +10.4% last while imports arrived at -0.5% vs. -0.7% expected and +1.6% prior.
As far as the data on the USD terms is concerned, the headline Trade Balance grew past-$50.5B forecast to $58.9B. Details suggest that the Exports rose 9.5% versus 7.1% prior whereas Imports eased to -2.1% against +0.1% expected and -1.4% prior.
Additional points
China Jan-Aug exports to the United States in yuan terms down 0.5%.
China Jan-Aug imports the United States in yuan terms +0.2%.
China Jan-Aug trade surplus with the United States 1.32 trln yuan.
AUD/USD reaction
The Chinese exports and surplus big beat failed to impress the AUD bulls, as the AUD/USD pair kept its range below 0.73. At the press time, the aussie adds 0.08% to trade at 0.7283.
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