The Australian dollar rose toward $0.653 on Monday, rebounding from significant losses in the previous week, as investor sentiment improved following reassuring comments from President Donald Trump amid rising tensions in the US-China trade dispute. In a Truth Social post, he said trade ties with China “will all be fine,” signaling openness to talks and a possible meeting with President Xi. His comments eased concerns following his move to impose 100% tariffs and software restrictions starting November 1. Domestically, investors are closely watching for the release of the RBA meeting minutes, upcoming speeches by central bank officials, and key labor market data expected in the coming days. This followed recent remarks from Governor Michele Bullock, who emphasized ongoing concerns about persistent inflation and reaffirmed a data-dependent approach to monetary policy. Markets are now pricing in only about a 52% chance of a 25 bps rate cut at the RBA’s November meeting.