China's Trade Balance Move To A Surplus

In China, the April trade balance unexpectedly reported a surplus, at $1.68 billion, versus a $0.55 billion expected and following a $7.24 billion deficit previously.

Export growth was reported at 30.5% y/y (from 24.3%) while imports ran at a 49.7% yearly rate in April.

This turn off events will likely put pressure on the PBOC and the Chinese government to let the Yuan appreciate.