The April Trade Balance in China: Mixed data fails to strengthen the Australian dollar

The Chinese trade balance for the April month, in Yuan Currency (CNY) terms, came out as CNY 325.08 billion versus CNY 441.88 billion as predicted and CNY 300.58 billion at close.

May 09, 2022 - 06:01 PM 251 views

The April Trade Balance in China: Mixed data fails to strengthen the Australian dollar

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© The April Trade Balance in China: Mixed data fails to strengthen the Australian dollar

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The Chinese trade balance for the April month, in Yuan Currency (CNY) terms, came out as CNY 325.08 billion versus CNY 441.88 billion as predicted and CNY 300.58 billion at close.

Exports increased by 1.9% last month, compared to 16.4% predicted and 12.9% the day before.

Imports declined by 2.0% vs.-2.9% predicted and -1.7% foremost.

In terms of USD terminology

China disclosed a higher than predicted growth rate in the trade surplus, as the Chinese import and export businesses are growing faster than expected.

The trade balance came out as +51.12B versus +50.65B predicted and +47.38B the last one.

Exports (YoY): 3.9%, compared to +3.2% predicted and +14.7% projected.

Imports (YoY): 0% vs. -3.0% predicted and -0.1% in the previous year.

Key Takeaways

China's Jan-April yuan-specified exports were +10.3% YoY. 

China's yuan-specified imports increased by 5.0% year on year from January to April.

China's Jan-Apr trade balance of $221.93 bln.

China's Jan-Apr dollar-specified exports: +12.5% y/y, imports: +7.1% YoY.

China's April trade redundant with the US $32.2 bln vs $32.1 bln redundant in March.

 Forex Market(FX) Implications

The mixed Chinese trade numbers have had no effect on the AUD/USD, which has maintained its negative momentum just over 0.7000. On the day, the spot is down nearly 1%.

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