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Aussie Dollar Soars on US-China Trade Optimism

10/29/2025

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Summary

Story summary

The Australian dollar strengthened on positive US-China trade developments and remarks from Michele Bullock, Governor of the Reserve Bank of Australia, about a tight labor market.
Market expectations for an interest rate cut have dropped to 15 percent for next week.
AUD/USD traded around 0.6560, supported by optimism for a US-China trade agreement.
The U.S. dollar faced pressure ahead of a likely Federal Reserve rate cut, amid risk-on sentiment.

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Story summary

The Australian dollar strengthened on positive US-China trade developments and remarks from Michele Bullock, Governor of the Reserve Bank of Australia, about a tight labor market.
Market expectations for an interest rate cut have dropped to 15 percent for next week.
AUD/USD traded around 0.6560, supported by optimism for a US-China trade agreement.
The U.S. dollar faced pressure ahead of a likely Federal Reserve rate cut, amid risk-on sentiment.