Still no word on China's unusual trade data omission today

  • China is yet to publish its September trade data, which is scheduled for today

It is a bit of an odd one as the data is due for today alongside that of Q3. Typically, officials will also hold a briefing to speak about the numbers but there isn't anything about that either. At the end of the day, it is China and there's only so much one can speculate.

In any case, the data was estimated to show a further decline in the country's export growth (+4.1% y/y estimate, +7.1% prior) with imports (+1.0% y/y estimate, +0.3% prior) set to remain rather tepid.

The timing might also be an interesting one as this release would be two days before the National Congress - which is to take place on Sunday. For some context, this is the most important meeting of the Chinese Communist Party's five-year political cycle. The event will be one where Xi is on course for a historic third term as the country's leader.

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