• China trade balance for July: surplus of $47.3bn ( expected $27.40bn, prior was $31.56bn)
  • Exports +14.5% ( expected +7.0%, prior was +7.2%)
  • Imports -1.6% (expected is +2.6%, prior was +5.5%)

An hour later than normal, just to keep us on out toes.

Huge trade surplus, likely foreshadowed by the very weak USD/CNY fix today

Huge surplus, exports a big, big jump. Weaker imports, though. So, a mixed report.