AUD/USD rises on Trump trade talk optimism, risk sentiment improves
AUD/USD gained 0.25% to 0.6745 as risk appetite improved following President Trump's expressed willingness to continue trade negotiations with China. The Australian dollar, being a risk-sensitive currency, benefited from the shift in market sentiment as traders reduced safe-haven positions. The positive trade rhetoric eased concerns about escalating tariffs that had previously weighed on commodity currencies. Technical indicators show AUD/USD testing resistance at 0.6760, with immediate support at 0.6720. The pair's upward momentum could extend toward 0.6800 if trade optimism persists and Chinese economic data remains supportive. However, traders remain cautious ahead of Australian employment data due Thursday and any concrete developments in US-China trade discussions. The improved risk environment also supported other commodity currencies, with NZD/USD advancing in tandem.
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