China’s April trade data (Yuan terms): A big beat, but exports & imports disappoint

China's trade balance for April, in Yuan terms, came in at +262.3 billion CNY vs +262.3 bn expected and 164.34 bn last. Exports came at 14.3% y/y vs 16.8% expected and 22.3% last, while imports were +18.6% y/y vs 29.3% expected and 26.3% last.

The release in USD terms will hit the wires within the next hour approximately. The data is a slightly negative input for the Aussie, as exports disappoint markets and re-ignite concerns over China’s external demand.