Westpac on the Australian dollar and the "collapse in the trade surplus"

A snippet from WPAC,

• The A$, as a proxy for global risk sentiment, and also for China's growth outlook, will continue to be buffeted by COVID-19 concerns.
• Fragile industrial commodities and travel bans threaten each of Australia's top 5 exports (coal, iron ore, LNG, education, tourism), pointing to a collapse in the trade surplus starting in the Feb data. The extent and timing of likely RBA easing is a swing factor near term but impact on Australia's economy will be muted.
• Multi-day/week risks to 0.6000

That view for the risk to 0.6000 seems a bit restrained. As export income collapses I'd suggest much lower than that. Exports have been a bright spot for the economy, one of very few. A loss of export income has multiplying repercussions (not positive ones) through the economy.