AUD not doing a lot after the data - it was smashed lower earlier on China trade retaliation

The news hit earlier on China retaliating for Australia pushing for an investigation into the origins and spread of coronavirus

• China has hit four Australian meat works with import bans

China warned they'd strike against Australia, posted Monday:

• Australia might face big problems if it continues to take unfriendly action against China
• AUD - China expected to announce tariffs on some Australian agriculture products

AUD was sold off on the move from China to ban meat from certain plants earlier.

Then we had the data from Australia:

• Australia business confidence -46 (-66 prior) and business conditions -34 (-21) for April
• Australia's largest ever drop in overseas visitor arrivals in March: -60% y/y

Which has not prompted much further movement:

I would be mindful of the potential for further retaliation from China against Australia, doing so could be seen as a proxy fight with the US by China (Australia counts the US as a key ally).