Australia remains very closely linked to the Chinese economy and is strongly impacted the current Covid-19 crisis. But this morning, government data showed that China’s exports grew unexpectedly by 3.5% on year in April (vs -11.0% expected), while imports dropped 14.2% (-10.0% expected). Also, China’s Caixin Services PMI rose to 44.4 in April (50.1 expected) from 43.0 in March.
AUD/USD LONG (Buy)
ENTER AT: 0.6454