China’s June Trade data (USD): Surplus shrinks amid surprise jump in exports and imports

Dhwani Mehta FXStreet

The China customs published Trade Balance for June in USD terms, reporting a smaller-than-expected increase in the trade surplus despite an unexpected jump in the imports and exports.

In USD terms,

Trade Balance (USD) came in at +46.42B versus +58.6B expected and +62.93B previous.

Exports (YoY): +0.5% vs.-1.5% exp. and -3.3% last.

Imports (YoY): +2.7% vs.-10.0% exp. and -16.7% last.

Market implications

The surprise jump in both exports and imports is good news for the Chinese economy. However, it failed to have any positive impact on the Chinese proxy, the AUD. The AUD/USD pair keeps the range play intact below 0.6950 so far this Tuesday.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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