China’s Sept Trade data (USD): A 13.2% jump in imports is good news

The China customs published Trade Balance for September in USD terms, reporting a narrowing trade surplus, in light of a big jump in imports.

In USD terms,

Trade Balance came in at +37B versus +59.98B expected and +58.9B previous.

Exports (YoY): +9.9% vs. +10.0% exp. and +9.5% last.

Imports (YoY): +13.2% vs. +0.2% exp. and -2.1% last.

Market implications

The massive jump in imports is welcome news for the Chinese economy. However, it failed to have any positive impact on the Chinese proxy, the AUD. The AUD/USD pair hovers near daily lows of 0.7165.