China’s May trade data (Yuan terms): A tad better, Imports rise sharply

China's trade balance for May, in Yuan terms, came in at +281.6 bn billion CNY vs +324 bn expected and +262.3 bn last. Exports came at 15.5% y/y vs 13.5% expected and 14.3% last, while imports were +22.1% y/y vs 16.1% expected and 18.6% last.

The release in USD terms will hit the wires within the next hour approximately. The data is a slightly positive input for the Aussie, as exports bettered expectations and calmed fears over China’s external demand.