China's Nov trade data (CNY terms): Below estimates, but both exports & imports jump

Dhwani Mehta FXStreet

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.

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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