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.