{"id":100865,"date":"2020-06-04T12:58:00","date_gmt":"2020-06-04T16:58:00","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100865"},"modified":"2020-06-04T12:58:00","modified_gmt":"2020-06-04T16:58:00","slug":"103350-gbp-aud-australian-retail-sales-and-exports-slump","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103350-gbp-aud-australian-retail-sales-and-exports-slump\/","title":{"rendered":"GBP\/AUD: Australian retail sales and exports slump"},"content":{"rendered":"<p>The British pound is lower against the Australian dollar on Thursday.<\/p>\n<ul>\n<li><strong>Pound drop versus Aussie extends to fifth\u00a0day<\/strong><\/li>\n<li><strong>Retail sales in Australia plummet -17.7% in April<\/strong><\/li>\n<li><strong>Australian exports and imports slump<\/strong><\/li>\n<li><strong>UK awaits next direction on Brexit after talks<\/strong><\/li>\n<\/ul>\n<p>GBP\/AUD was down by 28 pips (-0.15%) to 1.8894 as of 4pm GMT.<\/p>\n<p>The currency pair was little moved for most of the day, dipped below 1.81 but quickly came off its lows. Yesterday the exchange rate fell -0.18% and it is down -2.05% for the week.<\/p>\n<h2>GBP: Waiting for Brexit negotiator comments<\/h2>\n<p>For UK-related cues, traders were waiting to hear the conclusion of the latest round of EU\/UK trade talks tomorrow. EU Chief Negotiator Michel Barnier and UK Chief Negotiator David Frost have made a habit of listing out the flaws in each other\u2019s negotiating position at the end of the week of talks. Tomorrow may reveal whether rumours earlier in the week of a softening of the UK position had any truth to them.<\/p>\n<p>UK construction activity picked up in May, however it did so by less than expected and remains deeply in contraction at a PMI reading of 28.9 when over 50 denotes expansion.<\/p>\n<h2>AUD: Retails sales, exports and imports slump<\/h2>\n<p>The optimism across global markets dimmed slightly on Thursday, limiting the upward progress in the Australian dollar. Added to that, Australian retail sales registered a sharp drop of -17.7% in April, although that was slightly better than the -17.9% decline anticipated. Likewise imports and exports both fell in the region of -10% over the month.<\/p>\n<p>Australian shares have gained every day this week with markets pricing in a V-shaped economic recovery after high-frequency data points from across the globe like jobless claims and PMIs have improved in May from the record declines in April during the peak of government-enforced lockdown.<\/p>\n<p>The Australian dollar has continued to rise this week, even as data showed the economy declined by -0.3% in the first three months of the year. Treasurer Josh Frydenburg warned the economy will lose value again in Q2, leading to Australia\u2019s first recession in three decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is lower against the Australian dollar on Thursday. Pound drop versus Aussie extends to fifth\u00a0day Retail sales in Australia plummet -17.7% in April Australian exports and imports slump UK awaits next direction on Brexit after talks GBP\/AUD was down by 28 pips (-0.15%) to 1.8894 as of 4pm GMT. The currency pair [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":5579,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1578,2832,2831,1475,1860],"class_list":{"0":"post-100865","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp","9":"tag-aussie-dollar","10":"tag-australia-retail-sales","11":"tag-australian-exports","12":"tag-brexit-talks","13":"tag-gbp-aud"},"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: Australian retail sales and exports slump - 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\/103350-gbp-aud-australian-retail-sales-and-exports-slump\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jasper Lawler\" \/>\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\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/AUD: Australian retail sales and exports slump\",\"datePublished\":\"2020-06-04T16:58:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/\"},\"wordCount\":357,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100629-gbp-usd-fed-and-boe-accouncements.jpg\",\"keywords\":[\"Aussie dollar\",\"australia retail sales\",\"australian exports\",\"Brexit talks\",\"gbp\\\/aud\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103350-gbp-aud-australian-retail-sales-and-exports-slump\\\/\",\"name\":\"GBP\\\/AUD: Australian retail sales and exports slump - 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