Comments out of Commerzbank AG in Singapore:

  • "The weak trade numbers indicate that the recovery in December's trade figures was largely due to a front-loading effect, rather than improving demand
  • Adds that the poor data due to a front-loading effect, rather than improving demand"
  • "hints that it does not make too much sense for China to maintain a strong currency."

(Hao Zhou, senior economist, via (and more there) Bloomberg)

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Earlier:

  • China January trade balance (USD terms): exports -11.2% and imports -18.8% y/y
  • China customs comments - expects exports to improve in Q2
  • China Trade balance (January): CNY 406.2bn (expected +389.01bn)