China’s July Trade Balance (CNY): A big beat across all indicators

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China’s Trade Balance for July, in Yuan terms, came in at CNY442.23 billion versus CNY264.99 billion expected and CNY328.94 billion last.

July exports came in at +10.4% vs. +2.3% expected and +4.3% last while imports arrived at +1.6% vs. -0.7% expected and +6.2% prior.

AUD/USD reaction

A big beat on the Chinese trade figures fails to impress the AUD bulls, as the AUD/USD pair keeps its range near daily lows of 0.7210. The spot is down 0.24% on the day.

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