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China August trade data eyed as exports, imports expected to accelerate

Forecasters project exports rising 25.0% year over year and imports climbing 30.0%, with the surplus seen widening to about $119.1 billion, a print that could influence AUD through China demand expectations.

Reported · Written up by our desk · Major Pairs

Forexlive is looking ahead to China’s August trade release, with economists expecting exports to accelerate to 25.0% year over year and imports to rise 30.0% year over year.

The Reuters poll referenced in the preview also points to the trade surplus widening further to around $119.1 billion, up from $112.5 billion in July.

The analysis says a stronger-than-forecast export print could extend the view that external demand is continuing to support China’s growth, which may in turn help support the Australian dollar as a China demand proxy.

It also notes that if imports beat expectations, the strength may be read more constructively as firmer domestic demand rather than only re-exported components, while any miss would likely refocus attention on softer underlying momentum signaled by manufacturing data.

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