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China’s Commerce Ministry: China is prepared to communicate with US to ease trade restrictions
China’s Vice Commerce Minister said in a statement on Thursday, “China is willing to conduct candid consultations with the US to reduce restrictions on bilateral trade and investment.”
Additional comments
“China-US trade has been highly complementary, resilient.”
“Need to create a stable and predictable economic and trade environment between China and US to enhance confidence of business cooperation.”
“The risk of a global economic recession is growing, the external environment poses serious challenges, and there is a greater risk of weakening external demand.”
Market reaction
AUD/USD popped roughly 10-pips higher on the upbeat Chinese headlines. The pair bounced off daily lows of 0.6726 to test 0.6740, where it now wavers. The spot is still down 0.35% on the day amidst unrelenting US Dollar demand.
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