China trade balance
China trade balance
  • Prior was +96.1B
  • USD denominated exports +6.0% y/y vs +5.0% exp
  • USD denominated imports -4.9% y/y s -0.9% exp
  • Yuan-denominated exports +6.3%
  • Yuan-denominated imports -2.1%
  • Trade surplus with US at $18.01B vs +$20.46 in April

The trade war curbed imports but not in some kind of game-changing way, which is somewhat surprising. It may highlight that it's going to be very difficult to reshape global trade.

Source: Forex Live