The timing of the data can varied, but around 0300GMT has been good for recent releases.

First to hit will be 'yuan terms', followed by USD terms 9again, based on recent experience.

In February exports plummeted, which made sense given the trade tensions with the US. But is this just a back fitted narrative? The question is how much the Feb data was hit by the lunar new year holidays. Hopefully March is clearer, but Goldman Sachs warn the distortions from the holiday can persist into the first half of March.

Yuan terms

China trade balance for March: expected CNY 178.2bn, prior was CNY 34.6bn

  • Exports y/y: expected 14.8%, prior was -16.6%
  • Imports y/y: expected -9.6%, prior was -0.3%

USD terms

China trade balance: expected $7.05bn, prior was $4.08bn

  • Exports: expected 7.3%, prior -20.8%
  • Imports: expected -1.3%, prior was -5.2%