China's Trade Balance for November, in Chinese Yuan terms, came in at CNY494.3 billion versus CNY575.45 expected and CNY586.81 billion last.

The exports rose by 0.9% last month vs. 7.0% previous.

The country’s imports dropped by 1.1% vs. 4.1% expected and 6.8% prior.

In US Dollar terms,

China reported a reduction in the trade surplus, as exports and imports showed a bigger-than-expected slump.

Trade Balance came in at +69.84B versus +78.10B expected and +85.15B previous.

Exports (YoY): -8.7% vs. -3.5% exp. and -0.3% prior.

Imports (YoY): -10.6% vs. -6.0% exp. and -0.7% last.

Meanwhile, China’s Jan-Nov Yuan-denominated Exports arrived at +11.9% YoY.

China’s Jan-Nov Yuan-denominated Imports came in at +4.6% YoY.

China’s Jan-Nov Trade Balance stood at CNY+5.34 trillion.

China’s Jan-Nov Dollar-denominated Exports: +9.1% YoY.

China’s Jan-Nov Dollar-denominated Imports: +2.0% YoY.

FX implications

AUD/USD has come under fresh selling pressure on disappointing Chinese trade figures, slipping below 0.6700 once again. The spot is trading flat on the day at 0.6690, as of writing.