China October trade data:

• Yuan denominated exports -0.8% y/y (prior +8.4%)
• Yuan denominated imports +1.4% y/y (prior +7.5%)

USD denominated exports -1.1% y/y, an unexpected drop

• expected +3%, prior +8.3%

USD denominate imports +1.0% y/y, growth but missing estimates

• expected +3.2%, prior +7.4%

USD Trade Balance+$90.07bn

• expected +$95.60bn, prior +$90.45B

China’s trade surplus with the US in October was 24.76 bn USD

• prior surplus was a 22.82 bn USD surplus in September