{"id":100391,"date":"2020-05-22T05:06:19","date_gmt":"2020-05-22T09:06:19","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100391"},"modified":"2020-05-22T06:31:35","modified_gmt":"2020-05-22T10:31:35","slug":"103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\/","title":{"rendered":"GBP\/AUD: Aussie Dollar Dives On Cooling US – Sino Relations"},"content":{"rendered":"

The Australian Dollar<\/a> is continuing its descent on Friday, extending losses for a second straight session. The Pound Australian Dollar exchange rate settled on Thursday +0.37% at 1.8620.<\/p>\n

At 09:15 UTC, GBP\/AUD<\/a> is trading +0.35% at 1.8687. This is approximately mid-way between the daily traded range of 1.8587 \u2013 1.8719. Despite today\u2019s gains the pair is still on track to lose just shy of 1% across the week, marking the third straight week of losses.<\/p>\n

Check real time GBP to AUD exchange rate<\/span><\/a><\/div>\n

GBP: UK Retail Sales -18.1% in April<\/h2>\n

The Pound was trading mixed versus its peers on the final day of the week following dire retail sales data.<\/p>\n

Figures from of the Office of National Statistics revealed that British retail sales crashed -18.1% in April as many stores remained closed amid the coronavirus outbreak. The drop was worse than the -16% decline that analysts had predicted and a fall from March\u2019s -5.2% decline.<\/p>\n

Clothing sales plummeted by 50.2% as most high street shops kept their doors shut. However, online shopping sales reached a record high of 30.7%, highlighting the changing habits of the nation.<\/p>\n

Despite the gloomy news April is expected to be the bottom and retail sales should start showing signs of recovery going forwards, clawing back some ground in May.<\/p>\n

The data comes following yesterday\u2019s better than forecast service sector and manufacturing PMI releases, which showed the sectors were contracting at a slower pace in May than April. However, the sectors remain a long way from expansion.<\/p>\n

USD: China\u2019s New Security Law Threatens More Protests & A Reaction From Trump<\/h2>\n

The Australian Dollar, also referred to as a proxy for China, was trading sharply lower at the end of the week as US \u2013 Chinese relations took a turn for the worse. Relations between the two powers cooled after reports that China is planning to limit freedom in the financial hub Hong Kong following the pro-democracy protests at the turn of the year.<\/p>\n

Reports that China is planning a new security bill, which is will enter directly into Hong Kong\u2019s mini-constitution, bypassing the territory\u2019s Legislative Council is unnerving investors. The move by China risks new protests in Hong Kong. President Trump was quick to respond warning China against the move and escalating tensions in an already difficult relationship.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Australian Dollar is continuing its descent on Friday, extending losses for a second straight session. The Pound Australian Dollar exchange rate settled on Thursday +0.37% at 1.8620. At 09:15 UTC, GBP\/AUD is trading +0.35% at 1.8687. This is approximately mid-way between the daily traded range of 1.8587 \u2013 1.8719. Despite today\u2019s gains the pair […]<\/p>\n","protected":false},"author":163946597,"featured_media":82671,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1541,1394,1487,1391,1430],"class_list":{"0":"post-100391","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-gbp","12":"tag-hong-kong","13":"tag-pound","14":"tag-retail-sales"},"acf":[],"yoast_head":"\nGBP\/AUD: Aussie Dollar Dives On Cooling US - Sino Relations - 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\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\/\" \/>\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\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/AUD: Aussie Dollar Dives On Cooling US – Sino Relations\",\"datePublished\":\"2020-05-22T09:06:19+00:00\",\"dateModified\":\"2020-05-22T10:31:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/\"},\"wordCount\":410,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/australian-dollar-coins.jpg\",\"keywords\":[\"aud\",\"australian dollar\",\"gbp\",\"hong kong\",\"pound\",\"retail sales\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103268-gbp-aud-aussie-dollar-dives-on-cooling-us-sino-relations\\\/\",\"name\":\"GBP\\\/AUD: Aussie Dollar Dives On Cooling US - 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