China's Trade Balance for October, in Chinese Yuan terms, came in at CNY405.47 billion versus the previous reading of CNY558.74 billion.

Exports dropped 3.1% YoY in October vs. -0.6% seen in September. The country’s imports jumped 6.4% YoY in the reported month vs. -0.8% prior.

In US Dollar terms, China’s trade surplus unexpectedly narrowed in October.

Trade Balance came in at +56.53B versus +81.95B expected and +77.71B previous.

Exports (YoY): -6.4% vs. -3.1% exp. and -6.2% previous.

Imports (YoY): 3.0% vs. -5.4% exp. and -6.2% last.

Additional takeaways

China Jan-Oct USD-denominated exports -5.6% YoY.

China Jan-Oct USD-denominated Imports -6.5% YoY.

China Jan-Oct Trade Balance +$684.04 Bln.

China’s Oct trade surplus with the US stands at $30.82 billion vs. a $33.19 bln surplus in September.

FX implications

AUD/USD is off the lows on mixed China’s trade figures. The pair is flat on the day, trading at 0.6487 at the time of writing.