FX.co ★ Australian Dollar Rises for 4th Session

The Australian dollar saw a modest increase, reaching approximately $0.656 on Wednesday. This marks the currency's fourth consecutive session of gains, buoyed by a more optimistic market outlook in light of recent global trade developments. On Tuesday, U.S. President Donald Trump announced a significant trade agreement with Japan, involving a 15% tariff on Japanese exports. Meanwhile, U.S.–China trade discussions are gaining traction as the August 12 deadline approaches. Treasury Secretary Scott Bessent is scheduled to meet with Chinese officials in Stockholm next week, aiming to negotiate a deadline extension and to boost U.S. exports. On the domestic front, recent statistics revealed that the Westpac Leading Index declined to 0.03% in June, indicating a slowdown in momentum caused by weaker commodity prices and decreased working hours. Investors are also considering the Reserve Bank's cautious approach, as meeting minutes disclosed that members support a gradual easing trajectory and prefer to wait for more definite indications of slowing inflation. Attention is now directed towards the upcoming PMI data, expected later today, which will provide further insight into business conditions for July.