AUD/USD still dripping lower

I'm using the AUD mvoement as a bit of a summary for pretty much all the risk assets. US equity index futures are falling, oil has come off and lost all its earleir gains.

The China data is awful, just appalling:

• China data April Retail sales & Industrial production both plunge

Shanghai officials are trying to make soothing noises. They've been doing that ever since the 3 day lockdown was announced a couple of months ago!

• China coronavirus - Shanghai official says many restrictions to remain

Meanwhile China monetary and fiscal authorities keep promising more stimulus. The PBOC does not appear to be on board:

• PBOC injects 100bn yuan via a 1-year MLF, unchanged rate of 2.85%

No rate cut again

aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term