China's trade performance remains weak

In China, import growth for the month of November was above the market expectations, while the exports remained soft. Exports dropped by 6.8% yoy in November, market was expecting a drop of 5%. Imports fell by 8.7% in November.

There was narrowing in the trade surplus to $54.1bn from that of the previous month's $61.6bn. 

"China's trade performance remains weak, as the trade value is likely to drop 8% for the whole year of 2015, mainly reflecting the weakness in the manufacturing sector", says Commerzbank in a research note.

Currently USD/CNY is trading at 6.42, while USD/CNH is trading at 6.48.