China's trade surplus (USD-Denominated Trade Balance) in May rose to record high

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China's trade surplus (USD-Denominated Trade Balance) in May rose to record high

Сhina's trade surplus in May rose to a record high as exports fell less than expected and imports fell along with commodity prices.


Exports decreased by 3.3% in dollar terms compared to a year earlier, while imports fell by 16.7%, resulting in a trade surplus of $ 62.93 billion. The record surplus comes as prices for goods purchased by China, such as crude oil, natural gas and soybeans, decline. Meanwhile, exports fell to a minimum, partly driven by sales of masks and other medical supplies, as countries around the world are struggling to stop the spread of coronavirus.

"The drop in imports is mainly due to a high base compared to last year and a drop in commodity prices," said Xing Zhaopen, an economist from the Australian and New Zealand banking group in Shanghai. "The volumes of most major imported goods have grown, showing that China's economy is gradually recovering."

source..

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

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The forum threads
  1. Key forum thread - Fast Fourier Transform - Cycle Extraction - the thead with FFTfiltr indicator and explanation
  2. New EA based on the !xMeter (!xMter based on Fast Fourier Transform) - the thread 
  3. Many FFT indicators with examples and explanations - the thread 
  4. Ticks Before The News - the thread with many FFT indicators and explanation how to trade

CodeBase

  1. dt_FFT - library for MetaTrader  
  2. LGLIB - Numerical Analysis Library - library for MetaTrader 4 
  3. ALGLIB - Numerical Analysis Library - library for MetaTrader 5 
  4. AFIRMA - indicator for MetaTrader 5
  5. Fourier extrapolation of price - indicator for MetaTrader 5

The articles

China’s Trade Surplus Surges to a Record in May as Imports Slump
China’s Trade Surplus Surges to a Record in May as Imports Slump
  • 2020.06.07
  • es-us.finanzas.yahoo.com
(Bloomberg) -- China’s trade surplus surged to a record in May as exports fell less than expected and imports slumped along with commodity prices. Exports decreased 3.3% in dollar terms from a year earlier, while imports plunged 16.7%, leaving a trade surplus of $62.93 billion. The record surplus comes as the price of commodities China buys...
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