The Australian dollar was little changed around $0.693 on Thursday, consolidating its rebound from a two-month low as investors monitored a high-stakes televised address by US President Donald Trump on the conflict with Iran, while robust domestic trade data underpinned sentiment. Official figures showed that Australia’s trade surplus more than doubled in February to its highest level in seven months, driven by a surge in gold and agricultural exports, alongside weaker imports of gold and data-processing equipment.
Market participants also focused on Trump’s upcoming address, in which he is expected to declare that the US has achieved its main objectives in Iran and to signal a scaling back of the conflict over the next two to three weeks, a development that could affect global asset prices. Trump had previously indicated that a ceasefire could be considered “when the Strait of Hormuz is open, free, and clear.”
At the same time, trade tensions re-emerged as the Trump administration prepared to impose a 25% tariff on finished goods containing imported steel and aluminum, rekindling concerns over global trade flows and industrial supply chains.
