China’s June Trade Balance: Surplus keeps expanding, as exports soar
|China's Trade Balance for June, in Yuan terms, came in at CNY650.11 billion versus CNY455.04 expected and CNY502.89 billion last.
The exports jumped by 22% last month vs. 11.7% expected and 15.3% previous.
Imports rose by 4.8% vs. 2.8% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as exports beat expectations.
Trade Balance came in at +97.94 versus +75.7B expected and +78.76B previous.
Exports (YoY): 17.9% vs. +12% exp. and +16.9% prior.
Imports (YoY): 1% vs. +2.0% exp. And 4.1% last.
FX implications
AUD/USD remains uninspired by the upbeat Chinese trade figures, keeping its recovery mode intact at around 0.6770.
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