China Nov. USD trade figures show exports beat expectations while imports missed

<p>Chinese trade data for November 2023</p><p>In US dollar terms:</p><p>Trade Balance 68.39bn</p><ul><li>vs. expected 58.0bn and prior 56.5bn</li></ul><p>Exports +0.5% y/y</p><ul><li>expected -1.1%, prior -6.4%</li></ul><p>Imports -0.6% y/y</p><ul><li>expected +3.3% and prior +3.0%</li></ul><p>For the YTD:</p><p>January – November trade balance is 748bn USD</p><ul><li>exports -5.2% y/y</li><li>imports -6.0% y/y</li></ul><p>—</p><p>These are mixed results. While the better than expected exports performance is welcome news for China's external sector the big miss on imports confirms concerns about the stumbling recovery in the domestic economy.</p><p>China-proxy FX, such as AUD, is weak, AUD/USD is sitting basically at its session low. </p><p>AUD/USD update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.