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- China’s June Trade Balance: Surplus keeps expanding, as exports soar
China’s June Trade Balance: Surplus keeps expanding, as exports soar
China's Trade Balance for June, in Yuan terms, came in at CNY650.11 billion versus CNY455.04 expected and CNY502.89 billion last.
The exports jumped by 22% last month vs. 11.7% expected and 15.3% previous.
Imports rose by 4.8% vs. 2.8% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as exports beat expectations.
Trade Balance came in at +97.94 versus +75.7B expected and +78.76B previous.
Exports (YoY): 17.9% vs. +12% exp. and +16.9% prior.
Imports (YoY): 1% vs. +2.0% exp. And 4.1% last.
FX implications
AUD/USD remains uninspired by the upbeat Chinese trade figures, keeping its recovery mode intact at around 0.6770.
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