Yuan Cold Shower: China To Post Trade Deficit, Part II; ETFs Volume Surges

We reported this here way back on March 23, now Bloomberg is now saying that China may post a trade deficit for March, undermining calls for the Yuan's revaluation:

"China may post its first trade deficit in six years after a surge in
imports of commodities and consumer goods, weakening U.S. arguments that the
nation is keeping its currency undervalued to gain an advantage.

Imports probably exceeded exports by $390 million in March after a $7.6
billion trade surplus the previous month, according to the median estimate in a
Bloomberg News survey of 26 economists. The customs bureau is scheduled to
release the figures tomorrow. Part of the shift into deficit is likely due to
rising commodity prices, economists said. "

China's currency ETFs are tracked live here. Use CYB and CNY (click to receive buy and sell alerts on them) .Today's volume on over is over 3X their daily average.