China’s August Trade Balance: Surplus shrinks, exports and imports disappoint
|China's Trade Balance for August, in Yuan terms, came in at CNY535.91 billion versus CNY504.85 expected and CNY682.69 billion last.
The exports jumped by 11.8% last month vs. 15.7% expected and 23.9% previous.
The country’s Imports rose by 4.6% vs. 8.7% expected and 7.4% prior.
In USD terms,
China reported a big drop in the trade surplus, as exports and imports both missed expectations.
Trade Balance came in at +79.39B versus +92.7B expected and +101.26B previous.
Exports (YoY): +7.1% vs. +12.8% exp. and +18.0% prior.
Imports (YoY): +0.3% vs. +1.1% exp. and +2.3% last.
FX implications
AUD/USD is hurt by the downbeat Chinese trade figures, reverting to challenge the 0.6700 level once again. The spot is down 0.44% on the day, at the press time.
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