The Australian dollar climbed as China’s economy exhibited resilience against U.S. tariffs, with President Trump toning down trade rhetoric. China’s Q3 growth hit 1.1%, exceeding expectations, calming market nerves and supporting Australia’s currency by 0.3% to $0.6504.
Political shifts in Japan saw Sanae Takaichi, a fiscal stimulus advocate, nearing prime ministerial confirmation after aligning with the Japan Innovation Party. However, BOJ’s Hajime Takata’s interest rate hike remarks erased initial market optimism.
Takaichi faced challenges after a coalition split, but her partnership with JIP provides a strategic advantage. Markets remain cautious, awaiting de-escalation in U.S.-China trade tensions, while Japan’s Nikkei index surged over 3% amid speculations of BOJ policy changes.
(With inputs from agencies.)
