More on China trade data: “We think China could miss its target for trade growth this year… “

The trade data is here: China trade balance for June: +$31.60 bn (vs. expected +$36.95bn)

Via Reuters comes this from Li Huiyong, an economist at Shenyin & Wanguo Securities in Shanghai:

• Said exports should support China’s growth in the second half of the year, even if Beijing may miss its 2014 trade growth target
• “We think China could miss its target for trade growth this year of 7.5 percent
• We expect combined exports and imports to rise 5 percent in 2014 from a year ago
• The recovery in exports will help the recovery of China’s economy in the second half of this year. At least, we think exports will not be a drag on the broad economy”

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After selling off in the wake of the employment data from Australia and the trade data from China the AUD has picked itself up off the floor. Barely. More sellers await now around 0.9410/15 and through to 20 though.