At 0200GMT we get trade balance data for June out of China. We’ve been talking a lot recently about the crackdown in China on export invoice inflation, so we may get better quality data in today’s release.
The recent trade data from Taiwan showed a fall, but not by as much as expected, which may well mean that if there is a surprise on China’s data it could well be to the upside (which means we can all start moaning about the quality of their data all over again :-)).
- China June trade balance, expected is a surplus of USD27.8b, prior was +20.43b
- Exports, y/y % change for june, expected is +3.7%, prior was +1.0%
- Imports, y/y % change for June, expected is +6.0%, prior was -0.3%