China's Nov trade data (CNY terms): Below estimates, but both exports & imports jump
|China’s trade balance for November, in yuan terms, came in at CNY298.111bn vs CNY 320bn expected and 325.25 last. Exports came at +5.9% y/y vs -0.1% expected and -3.2% last, while imports jumped +13.0% y/y vs +3.6% expected and +3.2% last.
The release in USD terms will hit the wires within the next hour approximately.
The data is a positive input for the Aussie, as both exports and imports were reported much higher-than expected. As a reminder the Australian Dollar is impacted on Chinese data, given the close links with the Chinese economy (Australia's main trading partner).
At present, the AUD/USD exchanges hands just ahead of 0.75 handle, up +0.31% so far.
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