{"id":100144,"date":"2020-05-15T05:00:34","date_gmt":"2020-05-15T09:00:34","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100144"},"modified":"2020-05-15T05:00:59","modified_gmt":"2020-05-15T09:00:59","slug":"103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\/","title":{"rendered":"GBP\/AUD: Aussie Dollar Advances After Upbeat Chinese Industrial Production"},"content":{"rendered":"<ul>\n<li><strong>Brexit tensions weigh on Pound<\/strong><\/li>\n<li><strong>OBR warns of budget deficit hitting 15.2% GDP<\/strong><\/li>\n<li><strong>Chinese industrial production +3.9% vs +1.5% expected<\/strong><\/li>\n<li><strong>At 09:15 UTC, GBP\/AUD -0.15% at 1.1885<\/strong><\/li>\n<\/ul>\n<p>The Australian Dollar is strengthening versus the Pound for a fourth straight session on Friday, hitting a 4-month high. The Australian dollar is on track to have strengthened 0.6% versus the Pound this week, after gaining 2.45% in the previous week.<\/p>\n<p>At 09:15 UTC, GBP\/AUD is trading -0.1% at 1.1885. This is towards the lower end of the daily traded range of 1.8869 \u2013 1.8940.<\/p>\n<p>The Pound is trading on the back foot following few signs of progress in EU -UK talks on the future relationship. In the penultimate round of talks before a key deadline next month, the UK is refusing to compromise in key areas.<\/p>\n<p>On Thursday, the European Commission threatened the UK with a lawsuit for breaking the bloc&#8217;s rules on freedom of movement. Meanwhile the UK warned the European Union that it was at risk of failing to honour commitments it agreed to in the Withdrawal Agreement. Relations are clearly at a low point which is weighing on demand for sterling.<\/p>\n<p>Adding to the pound\u2019s woes, the Office of Budget Responsibility forecast that government spending would hit \u00a3300 billion in 2020-21. The budget deficit is expected to reach 15.2% of GDP, the highest level since World War 2.<\/p>\n<p>The Australian Dollar is advancing after a big beat for Chinese Industrial production data. Official figures revealed that Chinese industrial output rose by 3.9% in April, well ahead of the 1.5% expected. The data shows that progress in being made in restarting heavy industry in the world\u2019s second largest economy.<\/p>\n<p>Chinese retail sales were slightly more disappointing declining -7.5%, worse than the -7% decline forecast. However, it was a large improvement on the previous month, which saw a -15% drop. Fixed asset investment also slipped -10.3% on the year, a nasty decline but still a vast improvement on last month&#8217;s-16.1% decline.<\/p>\n<p>The Australian dollar is considered a proxy for China, therefore encouraging data out of China often boosts the Aussie Dollar.<\/p>\n<p>Investors opted to focus on the bright spots in the Chinese data over threats by President Trump to cut ties with China as he continues in his efforts to pin blame for the coronavirus outbreak on China.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brexit tensions weigh on Pound OBR warns of budget deficit hitting 15.2% GDP Chinese industrial production +3.9% vs +1.5% expected At 09:15 UTC, GBP\/AUD -0.15% at 1.1885 The Australian Dollar is strengthening versus the Pound for a fourth straight session on Friday, hitting a 4-month high. The Australian dollar is on track to have strengthened [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3769,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1541,1386,2510,1394,2497,1391,1400],"class_list":{"0":"post-100144","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp","9":"tag-aud","10":"tag-australian-dollar","11":"tag-brexit","12":"tag-chinese-industrial-production","13":"tag-gbp","14":"tag-obr","15":"tag-pound","16":"tag-trump"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/AUD: Aussie Dollar Advances After Upbeat Chinese Industrial Production - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/AUD: Aussie Dollar Advances After Upbeat Chinese Industrial Production\",\"datePublished\":\"2020-05-15T09:00:34+00:00\",\"dateModified\":\"2020-05-15T09:00:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/\"},\"wordCount\":385,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100128-gbp-aud-boe-haldane-comments.jpg\",\"keywords\":[\"aud\",\"australian dollar\",\"Brexit\",\"Chinese industrial production\",\"gbp\",\"obr\",\"pound\",\"trump\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103216-gbp-aud-aussie-dollar-advances-after-upbeat-chinese-industrial-production\\\/\",\"name\":\"GBP\\\/AUD: Aussie Dollar Advances After Upbeat Chinese Industrial Production - 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