The Australian dollar (AUD) strengthened to around 0.6530 against the US dollar (USD) in the Asian session on Monday, after falling more than 1% in the previous trading session. This strengthening occurred amid the release of China's September trade balance data, which showed a surplus of CNY645.47 billion, down from the previous CNY732.7 billion. China's exports and imports both grew strongly, indicating continued solid trade activity in Australia's major partner.
However, the AUD/USD's rise was still overshadowed by trade tensions between the US and China, after President Donald Trump threatened to impose 100% tariffs on Chinese imports. Beijing warned of retaliation if the threat was not lifted. On the other hand, Trump's more lenient statements over the weekend calmed the market. Additional support for the Aussie came from a weakening US dollar, which was pressured by the partial US government shutdown and the Columbus Day national holiday, which slowed financial activity. (az)
Source: Newsmaker.id
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