Chinese industrial profits data is set to cross the wires this morning, which could help to set the tone for Asia-Pacific trading. The Australian Dollar is a prime proxy to gauge the market’s response to those numbers. AUD/USD saw a moderate bounce last week after a multi-week losing streak alongside a broader pullback in risk assets. Industrial profits grew by 3.5% on a year-over-year basis in April, which was seen as a dull figure weighed down by a wave of Covid-19 infections that caused lockdowns across major Chinese economic hubs. The situation has improved since then, although cities like Beijing and Shanghai ... (full story)