China's Trade Balance for May, in Chinese Yuan terms, came in at CNY452.33 billion versus CNY643.25 billion expected and CNY618.44 billion last. Exports fell 0.8% in the reported period vs. 9.9% expected and 16.8% previous. The country’s imports rose 2.3% vs. 4.2% expected and -0.8% prior. In US Dollar terms, China reported a sharp decrease in the trade surplus as exports show a bigger-than-expected drop. Trade Balance came in at +65.81B versus +92B expected and +90.21B previous. Exports (YoY): -7.5% vs. -0.4% exp. and 8.5% prior. Imports (YoY): -4.5% vs. -8.0% exp. and -7.9% last. FX implications: AUD/USD is feeling ... (full story)

USD/CNH looks set to reclaim 7.1300 as it rebounds from intraday low amid mixed China trade numbers published early Wednesday. In doing so, the offshore China Yuan (CNH) fails to justify recently sluggish, mostly downbeat, US Dollar moves. China’s headlines Trade Balance deteriorates to $65.81 billion versus $92.0 billion expected and $90.21 billion previous readings. That said, the Exports and Imports came in mixed with the former falling past -0.4% expected and 8.5% previous readings to -7.5% YoY whereas the latter improves to 2.3% from -0.8% market forecasts and 4.2% prior. On the other hand, US Dollar Index (DXY) ... (full story)

China's exports fell a much faster than expected 7.5% in May year-on-year, while imports contracted at a slower pace, dropping 4.5%, customs data showed on Wednesday. A Reuters poll of economists had forecast exports to have shrunk 0.4% and imports to have fallen 8.0%. Having beaten expectations in the first quarter, analysts are now downgrading their expectations for the economy for the rest of the year, as factory output continues to slow amid persistent weak global demand. Weak Chinese demand is hurting other major economies in the region. South Korean data last week showed shipments to China slid 20.8% in May, ... (full story)