• +$31.0 bln prev
  • exports $206.87 bln +11.6 % yy vs 10.6% exp vs +15.3% prev
  • imports $161.46 bln +4.6% yy vs +7% prev

Data out earlier from the General Administration of Customs which has a better than expected headline but declines in both imports and exports will have markets definitely in cautious mode as Adam identified in his preview

September’s surprisingly strong export growth brought accusations on the accuracy of the official data amid signs of hot money inflows as firms tried to evade capital controls by over-invoicing precious metal sales.The latest trade data indicates a reduction in such activity amid fears of an official crackdown.

The Ministry of Commerce said today that China’s external trade environment may slightly improve in 2015 but still faced uncertainties

It’s difficult for external demand to show a significant rebound

China’s combined exports and imports rose 3.8% in the first ten months from a year earlier which suggests China will miss its trade growth target for a third consecutive year.

Last month China reported Q3 GDP coming in at 7.3% – the weakest since the height of the global financial crisis – as a cooling property sector weighs on domestic demand.

Reuters has more on the latest trade data release here

Expect a less than positive reaction to all the above despite the better than expected headline as markets look for China to move towards increased monetary easing/stimulus and/or even a cut in interest rates in a bid to get back on track

Expect the Aussie $ to open up on the back foot, as well as increased fears for global economic growth

China trade data - causes for concern

China trade data – definite causes for concern