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08.11.2019 18:40

China: Exports stabilise but uncertainty clouds yuan – ING

Iris Pang, economist at ING, notes that China’s exports contracted 0.9% year-on-year in October after contracting 3.2%YoY in the previous month.

“Some export items experienced clear growth on a monthly basis, for example, automatic data processing parts and products (+14%MoM). This could be a result of increased smartphone orders. But exports may contract again in November and December, as exports for Western holidays will have already been shipped. Imports contracted 6.4%YoY in October after an 8.3%YoY contraction in September. The market has reacted positively to the news about a potential phase one deal, especially the possible rollback of tariffs imposed in September on $112 billion of goods. We think USD/CNY will reflect these uncertainties once the market realises that the phase one deal is not a one-way bet.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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