China May trade data, USD terms exports and imports both fell y/y.

China May trade data is disappointing, especially for exports.

For May, in US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term terms:

Exports -7.5% y/y

• expected -0.4%, prior +8.5%

Imports -4.5% y/y

• expected -8.0%, prior -7.9%

In yuan terms (the yuan is sliding, cushioning the blow):

Exports -0.8%

• expected +9.9%, prior +16.8%

Imports +2.3%

• expected 4.2%, prior -0.8%

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For the YTD, in USD terms:

• Exports +0.3%
• imports -6.7%

For the YTD in yuan terms:

• Exports -0.8% y/y
• imports +0.5% y/y