Following the conclusion of the fourth meeting of the Financial Working Group between China and the US in Washington on Wednesday, the Chinese Finance Ministry said that China expressed concern over the US economic and trade restrictions against China and made further responses on the issue of production capacity.
Meanwhile, the People’s Bank of China said that “both sides conducted professional, pragmatic, candid and constructive communication on monetary policy and financial stability, financial regulatory cooperation.” Market reaction Amidst a broad US Dollar retreat and an improvement in risk sentiment, AUD/USD is bouncing back to near 0.6420, up 0.30% on the day.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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