China's Trade Balance for September, in Chinese Yuan terms, came in at CNY558.74 billion versus expectations of CNY510 billion and CNY488 billion previous.

Exports dropped 0.6% YoY in September vs. -3.2% seen in August. The country’s imports declined 0.8% YoY in the reported month vs. -1.6% prior.

In US Dollar terms, China’s trade surplus shrunk more than expected in September.

Trade Balance came in at +77.71B versus +70B expected and +68.36B previous.

Exports (YoY): -6.2% vs. -8.3% exp. and -8.8% previous.

Imports (YoY): -6.2% vs. -6.0% exp. and -7.3% last.

Additional takeaways

China Jan-Sept Yuan-denominated exports +0.6% YoY.

China Jan-Sept Yuan-denominated Imports -1.2% YoY.

China Jan-Sept USD-denominated exports -5.7% YoY.

China Jan-Sept USD-denominated Imports -7.5% YoY.

China Jan-Sept Trade Balance +$630.3 Bln.

FX implications

AUD/USD is off the highs but remains well bid near 0.6325 on encouraging China’s trade figures. The pair is up 0.17% on the day, tradas of writing.