Australian Dollar Steadies Amid Global Trade Uncertainty
The Australian dollar remained relatively unchanged at approximately $0.636 on Thursday, despite recent volatility. Investors are closely monitoring global trade developments. The market's mood was mixed following reports that the Trump administration might consider lowering tariffs on Chinese imports, but this would be dependent on potential negotiations with Beijing. China showed a willingness to engage in discussions if the U.S. stops issuing further threats. However, U.S. Treasury Secretary Scott Bessent downplayed expectations by clarifying that there have been no unilateral proposals to cut tariffs, and formal negotiations have not commenced. Domestically, recent data indicated that Australia's private sector activity grew for the seventh consecutive month in April, driven by solid expansions in both the manufacturing and services sectors.
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