FX.co ★ Offshore Yuan Steady After Trade Data

On Monday, the offshore yuan stabilized around 7.06 against the dollar, with market sentiment remaining muted amidst robust foreign demand and sluggish domestic activity. In November 2025, exports increased by 5.9% year-on-year to USD 330.3 billion, exceeding expectations and recovering from the prior month's figures, buoyed by reduced trade tensions with the United States. In contrast, imports rose by only 1.9% to USD 218.7 billion, falling short of forecasts and underscoring persistent softness in domestic demand. Consequently, China's trade surplus expanded to USD 111.7 billion in November, up from USD 97.3 billion the previous year, surpassing the projected USD 100.2 billion and marking the largest surplus since June. This significant surplus is anticipated to bolster GDP growth after a period of slowdown, indicating that China is on course to achieve its official annual growth target of around 5%. As investors look ahead, this week's inflation data will be closely monitored for clues regarding China's monetary policy and economic outlook.