China’s Feb trade data (Yuan terms): A big miss on Imports jump

China's trade balance for February, in Yuan terms, came in at -60.4 billion CNY vs 172.5bn expected and 354.5bn last. Exports came at 4.2% y/y vs 14.6% expected and 15.9% last, while imports were +44.7% y/y vs 23.1% expected and 25.2% last.

The release in USD terms will hit the wires within the next hour approximately. The data is a slightly negative input for the Aussie, as exports disappoint markets and re-ignite concerns over China’s external demand.