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- China’s August Trade Balance: Surplus shrinks, exports and imports disappoint
China’s August Trade Balance: Surplus shrinks, exports and imports disappoint
China's Trade Balance for August, in Yuan terms, came in at CNY535.91 billion versus CNY504.85 expected and CNY682.69 billion last.
The exports jumped by 11.8% last month vs. 15.7% expected and 23.9% previous.
The country’s Imports rose by 4.6% vs. 8.7% expected and 7.4% prior.
In USD terms,
China reported a big drop in the trade surplus, as exports and imports both missed expectations.
Trade Balance came in at +79.39B versus +92.7B expected and +101.26B previous.
Exports (YoY): +7.1% vs. +12.8% exp. and +18.0% prior.
Imports (YoY): +0.3% vs. +1.1% exp. and +2.3% last.
FX implications
AUD/USD is hurt by the downbeat Chinese trade figures, reverting to challenge the 0.6700 level once again. The spot is down 0.44% on the day, at the press time.
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