China trade data for May. Lockdown restrictions eased during the month.
China’s trade balance 502.89 billion yuan:
- expected CNY 448.9 billion, previous was CNY 325.1 billion
Exports +15.3% y/y:
- expected +13.1%, before was +1.9%
Imports +2.8% y/y:
- expected 2.0%, before was 0.0%
USD terms
China’s trade balance: $78.76 billion
- planned $58.0 billion, previously $51.1 billion
Exports: +16.9% y/y
- expected 8.0%, before 3.9%
Imports: +2.8% y/y
- expected -9%, before was -2%
A significantly improved performance for trade, inbound and outbound, for the month of May compared to April. This is a good sign of improvement for the Chinese economy, which will be welcomed domestically and globally.
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January – May oil imports down 1.7% y/y. That’s not much given the scale of the impacts of the lockdown and it’s a bullish sign for oil as China’s economy gradually reopens in the weeks and months ahead.
USD
USD
The Euro (EUR) is the official currency of the European Union (EU) and 19 of the 27 member states at the time of writing. It is the second most traded currency in the world on the foreign exchange markets after the US dollar. The euro was initially introduced on January 1, 1999, after replacing the European currency unit. Euro banknotes and physical coins only entered circulation in 2002. Upon adoption, the euro replaced national currencies in participating EU member states. Its rise in value since then and its prominence in the global market have helped cement its status as one of the most important currencies in the forex market today. Along with the USD, the currency pair is easily among the most important for forex, given its exposure to the two major economic blocs. What factors affect the euro? Several factors affect the euro. Like most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB). The ECB is responsible for regulating monetary policy, the money supply, interest rates and the relative strength of the euro. Euro traders are regularly on the lookout for any ECB decision or announcement for this reason. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include the Greek debt crisis and Brexit, among others, which can have a serious impact on the Euro. Finally, economic data from the bloc or from key member states such as Germany, France, Spain and others are also closely watched. This includes retail sales, unemployment claims, gross domestic product (GDP) and others.
The Euro (EUR) is the official currency of the European Union (EU) and 19 of the 27 member states at the time of writing. It is the second most traded currency in the world on the foreign exchange markets after the US dollar. The euro was initially introduced on January 1, 1999, after replacing the European currency unit. Euro banknotes and physical coins only entered circulation in 2002. Upon adoption, the euro replaced national currencies in participating EU member states. Its rise in value since then and its prominence in the global market have helped cement its status as one of the most important currencies in the forex market today. Along with the USD, the currency pair is easily among the most important for forex, given its exposure to the two major economic blocs. What factors affect the euro? Several factors affect the euro. Like most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB). The ECB is responsible for regulating monetary policy, the money supply, interest rates and the relative strength of the euro. Euro traders are regularly on the lookout for any ECB decision or announcement for this reason. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include the Greek debt crisis and Brexit, among others, which can have a serious impact on the Euro. Finally, economic data from the bloc or from key member states such as Germany, France, Spain and others are also closely watched. This includes retail sales, unemployment claims, gross domestic product (GDP) and others.
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