Its China trade balance data day on Friday 8 June
- Data for May
- expected surplus is 33.8bn USD, 8.38bn USD surplus
- expected surplus is 232.5bn yuan, prior 181.8bn yuan
Timing? Dunno. It used to be published around 0200GMT give or take a few minutes but recently its all over the place.
CBA preview:
- We expect export growth of 11%/yr and import growth of 18%/yr in May.
- The import and new export orders sub-indices in the PMIs suggest a pickup in Chinese trade.
- In addition, we anticipate export shipments to the US to be front-loaded to avoid potential US trade restrictions. This means while Chinese exports to the US may pick-up in the near term, exports to the US are likely to weaken later in the year.
- The recently announced cuts to Chinese import duty should also support imports in coming months
