AUD/USD pressured by weak China data, declining trade surplus

AUD/USD has declined 0.6% to 0.6245 as disappointing Chinese economic data and Australia's shrinking trade surplus weigh heavily on the Aussie dollar. China's latest economic indicators fell short of expectations, dampening demand outlook for Australian commodities and reinforcing concerns about the region's largest trading partner. Australia's trade balance has deteriorated significantly, adding domestic pressure to the currency's weakness. The pair found temporary support at 0.6240 but remains vulnerable to further declines if China's economic momentum doesn't improve. US jobs data added another layer of complexity, with softer employment figures providing only limited relief to the downward pressure. Near-term resistance sits at 0.6280, while a break below 0.6240 could accelerate losses toward 0.6200. Traders should closely monitor upcoming Chinese PMI data and RBA policy signals for potential reversal catalysts.