Ella 
The Australian dollar continues its winning streak since the open last Wednesday. Amid ongoing political and geo-risk events in the Middle East, commodity prices have risen strongly, and the AUD/USD has gained upward support.
Australia committed to ensuring a stable supply of energy resources to Japan at the fifth Japan-Australia Ministerial Economic Dialogue. The agreement demonstrates the strategic partnership between Australia and China and highlights the importance of reliable and stable flows of energy resources, potentially including areas such as coal and liquefied natural gas (LNG).
In addition, this commitment also aims to create a reliable investment environment for Australia’s resources and energy industry.
China’s Ministry of Commerce announced on Monday that China has decided to extend its investigation of trade barriers against Taiwan for another three months. Australia is the largest exporter of commodities such as iron ore, coal and natural gas to China.
If trade tensions between China and Taiwan escalate, it may affect the global trade situation and, in turn, commodity prices. This in turn will therefore impact the Australian economy and the Australian dollar (AUD).
The U.S. dollar index rebounded after three consecutive days of losses and was trading around 106.20 at press time. The dollar (USD) strengthened due to strong U.S. non-farm payrolls data released on Friday.
