Yuan Strengthens After Rebound In China Exports, Trade Balance Disappoints

www.zerohedge.com | 12/7/2016 | Staff
moni (Posted by) Level 3
It appears that devaluing your currency against by over 10% in a year against your major trading partners does have some affect (albeit delayed). China Exports (in Yuan terms) grew at 5.9% in November (the fastest growth since March) (well ahead of the expected 1% decline). Imports, however, also soared (by 13%) in Yuan terms. However, in USD terms, Imports rose by the most since Sept 2014 (and exports managed a small rise) as China's trade surplus slipped and missed expectations. Offshore Yuan is strengthening modestly on the print.

A 10%-plus devaluation...

Terms - China - Exports

And in Yuan terms, China Exports are surging...

And in USD terms, Exports also managed a small improvement (as imports soared)...

Jumps - Exports - US - +6 - %

Big jumps in exports to US (+6.9% YoY),...
(Excerpt) Read more at: www.zerohedge.com
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!