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Forex News

Trade faces unprecedented challenges due to coronavirus

China’s foreign trade faces an unprecedented challenge in years due to the coronavirus epidemic, said the country’s Assistant Commerce Minister Ren on Friday.

Further quotes

Trade firms face difficulties in having their orders cancelled or delayed, with new orders at risk.

Firms’ ability to get parts from neighboring countries has greatly decreased.

Will promote the sales of export products in domestic markets.

Uncertainty about the coronavirus epidemic is the biggest uncertainty for china’s foreign trade.

China has the confidence to achieve relatively good results in trade through greater efforts.

Willing to boost trade relations with countries, including the US, under the new circumstances.

AUD/USD reaction

AUD/USD has inched a few pips lower from a fresh four-week high of 0.6370, now trading at 0.6360, still up 0.37% on a daily basis.

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