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- The Australian Dollar appreciates as PM Albanese has shared about a trade discussion with Trump last week.
- Australia’s Wage Price Index increased by 3.5% YoY in Q3, down from a 4.1% rise in Q2.
- The US Consumer Price Index data release will be eyed in the North American session.
The Australian Dollar (AUD) attempts to halt its losing streak against the US Dollar (USD) on Wednesday following a radio interview with Australia’s Prime Minister Anthony Albanese. Albanese shared that he discussed trade with US President-elect Donald Trump during a phone call last week. Albanese informed Trump that the United States holds a trade surplus with Australia and emphasized that it is in Washington’s best interest to “trade fairly” with its ally. Meanwhile, the defense minister underscored Australia’s significant investment in security.
The AUD/USD pair remained subdued after the release of the weaker-than-expected Australia’s Wage Price Index data on Wednesday. Additionally, the downward movement of the pair is bolstered by the optimism around the Trump trades.
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