AUD/USD retreats even after strong China manufacturing PMI data

The AUD/USD pair declined slightly as traders digested the latest China PMI data. It is also reacting to Australia’s building approvals and private sector credit data. It is trading at 0.7115, which is lower than the intraday high of 0.7147. China economy growth continues China is the most important Australia’s trading partner. In 2019, the countries did trade worth more than $235 billion. The total exports rose by 23.9% to $153 billion. China exported goods worth more than $82 billion to Australia. At the same time, the country is a leading consumer of Australia’s services like education and tourism. More