Will step up support measures
Fundamental Forex Analysis

Will step up support measures

Additional headlines are crossing the wires from the press conference held by China’s National Bureau of Statistics, with the key highlights found below.

China’s foreign trade situation in early April further improved from March.

External situation is complex, companies to face difficulties.

China will step up support measures.

Expects consumption to rebound as previously pent up demand is unleashed.

China needs to expand domestic demand while stabilizing exports.

Pressure on employment remains.

Migrant workers, graduates will find it harder to get jobs.

COVID-19 has been most difficult public health emergency since founding of the country.

Global goods and personnel flow have dropped, China cannot be unaffected.

Fundamentals of China’s economy are unchanged.

China is deepening reform and opening wider to spur growth.

China’s long-term growth momentum will not be affected by short term impact of COVID-19.

AUD/USD reaction

The aussie bulls have regained control following a temporary breather seen in the last hour after the mixed Chinese data dump, as AUD/USD heads back towards the daily highs of 0.6383, up 0.80% on a daily basis.

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