China's foreign trade, denominated in yuan, grows 14.2 percent year-on-year in April, according to data published today Saturday by the General Administration of Customs.

China's foreign trade, measured in yuan, increased by 14.2 percent year-on-year in April, as reported by the General Administration of Customs. This growth may enhance the yuan's appeal, potentially influencing capital flows as investors reassess their risk appetite towards Chinese assets. The positive trade data could bolster confidence in the Chinese economy, impacting equities and commodities linked to trade performance. Traders will likely focus on upcoming economic indicators, particularly the release of May's manufacturing PMI, to gauge the sustainability of this trade growth and its implications for the yuan.

The Chinese Yuan (CNY / CNH) is managed by the PBOC with a daily reference fix. PBOC fixes, Chinese trade data, and Politburo statements drive USD/CNH direction. Offshore CNH responds faster than onshore CNY.

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