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Fundamental Forex Analysis

Foreign trade still faces large downward pressure

The latest survey conducted by China’s Commerce Ministry showed on Thursday, foreign trade still faces large downward pressure with unprecedented risks and challenges due to the coronavirus outbreak.

Additional takeaways

Will improve auxiliary regulations on foreign investment law to ensure foreign firms have equal access to government support policies including those on land and tax cuts.

Foreign trade enterprises still suffer from canceled or delayed orders, difficulty in securing new orders, logistics problems.

This comes despite an unexpected jump in the country’s exports and trade surplus in April. 

Meanwhile, AUD/USD rides on the renewed bullish wave, now trading at 0.6460, up 1% so far.

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