China’s Trade Balance (CNY): Returns to surplus in March, imports pop while exports drop
China's Trade Balance for March, in Yuan terms, came in at CNY 139.42 billion versus CNY -42.59 billion last.
Exports came in at -3.5% vs. -15.9 last, while imports arrived at +2.4% vs. -2.4% last.
Further details
China Jan-March yuan-denominated exports -11.4% YoY.
Jan-March yuan-denominated imports -0.7% YoY.
Jan-March trade balance +98.33 bln yuan.
Q1 total trade with the US drops 18.3% in yuan terms.
AUD/USD reaction
The mixed Chinese trade data served failed to deter the AUD bulls, as the AUD/USD pair remains in highs near 0.6430.
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.
