China's Exports Climb to Record in September Despite Energy Crisis

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Bloomberg 13 October, 2021 - 02:41am 8 views

China’s Sept Trade Balance: Surplus expands amid surging exports, both beat estimates

FXStreet 12 October, 2021 - 10:14pm

China's Trade Balance for September, in Yuan terms, came in at CNY433.19 billion versus CNY386.13 billion expected and CNY376.31 billion last.

The exports rose by 19.9% last month vs. 17.1% expected and 15.7% previous.

Imports increased by 10.1% vs. 22.3% expected and 23.1% prior.

China reported a bigger-than-expected growth in the trade surplus, as both imports and exports bettered expectations

Trade Balance came in at +66.76B versus +47.6B expected and +58.34B previous.

Exports (YoY): +28.1% vs. +21.5% exp. and +25.6% prior.

Imports (YoY): +17.6% vs. +19.2% exp. and +33.1% last.

China Sept trade surplus with the US $42 bln vs $37.68 bln surplus in August.

China Jan-Sept trade surplus with the US at $280 bln.

AUD/USD ignores upbeat Chinese trade figures, now keeping its rebound intact just below 0.7350. The spot loses 0.08% on the day, currently trading at 0.7341.

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The single currency manages to leave behind the pessimism seen at the beginning of the week and now lifts EUR/USD back to the mid-1.1500s midweek as the soft tone surrounding the greenback allows a mild improvement in the pair.

GBP/USD is holding ground above 1.3600 after UK GDP missed estimates with 0.4% in August. A broad-based retreat in the US dollar keeps the pair afloat. Hawkish BOE outweighs renewed Brexit concerns amid a cautious market mood. US inflation and Fed minutes in focus. 

Gold is wavering in a narrow range above $1760, posting small gains so far this Wednesday. Gold bulls catch a breather heading into the US inflation and FOMC minutes showdown.

Shiba Inu price looks to be forming a rising wedge pattern, hinting at an incoming correction. A breakdown of the lower trend line at $0.00002828 will likely lead to a 13% correction to $0.00002540.  In some cases, SHIB might head to $0.00002186, creating a bottom reversal pattern.

The inflation-averaging vaccine is not working. Last September the Federal Reserve dropped its 2% inflation target. Instead of trying to meet a monthly goal, Federal Reserve policy would take a longer view, judging inflation across a much wider but carefully unspecified period. 

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