China’s June trade data (Yuan terms): Surprises positively as Exports jump sharply

China's trade balance for June, in Yuan terms, came in at CNY+294.3bn billion vs +275.1 bn expected and +281.6bn last. Exports came at 17.3% y/y vs 14.6% expected and 15.5% last, while imports were +23.1% y/y vs 22.3% expected and 22.1% last.

The data is a slightly positive input for the Aussie, as exports also surprise markets to the upside and calmed fears over China’s external demand.