China’s October Trade Balance: Surplus grows marginally amid weak exports and imports
China's Trade Balance for October, in Chinese Yuan terms, came in at CNY586.81 billion versus CNY565.34 expected and CNY573.57 billion last.
The exports rose by 7.0% last month vs. 14.8% expected and 10.7% previous.
The country’s Imports climbed by 6.8% vs. 6.0% expected and 5.2% prior.
In US Dollar terms,
China reported a marginal increase in the trade surplus, as exports and imports showed an unexpected drop.
Trade Balance came in at +85.15B versus +95.95B expected and +84.74B previous.
Exports (YoY): -0.3% vs. +4.3% exp. and +5.7% prior.
Imports (YoY): -0.7% vs. +0.1% exp. and +0.3% last.
FX implications
AUD/USD is unperturbed by the disappointing Chinese trade figures, keeping its range near 0.6720. The spot is down 0.68% on the day, at the press time.
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.
