Australian Trade Minister Don Farrell said that he expected more announcements on improving trade with China soon

In an interview with a local public broadcaster ABC over the weekend, Australian Agriculture Minister Murray Watt said, “ties between Australia and China have gradually warmed.

Watt’s comments come after his meeting with his Chinese counterpart, the first meeting since 2019.

Market reaction

AUD/USD is losing further ground on the day, despite encouraging comments from Australian officials. The pair is down 0.41% on the day to trade at 0.6636, as of writing.