{"id":105332,"date":"2020-09-28T10:00:38","date_gmt":"2020-09-28T09:00:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105332"},"modified":"2020-09-28T12:29:59","modified_gmt":"2020-09-28T11:29:59","slug":"104473-gbp-aud-brexit-optimism-overshadows-strong-chinese-factory-profits","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104473-gbp-aud-brexit-optimism-overshadows-strong-chinese-factory-profits\/","title":{"rendered":"GBP\/AUD: Brexit Optimism Overshadows Strong Chinese Factory Profits"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) trades high as hopes grow for a Brexit trade deal<\/strong><\/li>\n<li><strong>As the deadline of 15<sup>th<\/sup> October approaches Brexit headlines will be in focus<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/aud-australian-dollar-live-exchange-rate\/\">Australian Dollar<\/a> (AUD) trades higher versus peers on upbeat market mood &amp; China data<\/strong><\/li>\n<li><strong>Chinese factory profits rise for 4<sup>th<\/sup> straight month<\/strong><\/li>\n<\/ul>\n<p>The Pound Australian Dollar (<a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\">GBP\/AUD<\/a>) exchange rate is trending northwards on Monday, adding to gains from the previous week. The pair closed on Friday +2.3% at 1.8132, slightly off the week\u2019s high of 1.8184. At 08:15 UTC, GBP\/AUD trades +0.3% at 1.8191.<\/p>\n<p>The Pound is charging higher across the board at the start of the new week. It is the top performing major currency as investors grow more optimistic surrounding Brexit ahead of further trade talks this week. The mood music surrounding the talks has improved after headlines over the weekend point to a higher possibility of a trade deal being achieved.<\/p>\n<p>The British negotiating team is reported to have said that there will be a deal. The Confederation of British Industries head, Carolyn Fairbairn has also indicated that a deal can be reached.<\/p>\n<p>Time is ticking towards the British government\u2019s self-imposed deadline of 15<sup>th<\/sup> October and it would appear that the time pressure is injecting a sense of urgency into talks which have been deadlocked for months.<\/p>\n<p>Gains in the Pound could be limited s the number of coronavirus cases in the UK jumps 46% in a week. Tighter lockdown restrictions are expected in the coming days and weeks which will also certainly hamper the fragile economic recovery.<\/p>\n<p>The Australian Dollar is trading lower versus the Pound but is trading higher versus the other major pairs. The risk sensitive Aussie Dollar is rising on the back of an improved mood in the market and upbeat Chinese data.<\/p>\n<p>Chinese factory profits continue to see steady growth, rising for the 4<sup>th<\/sup> straight month in August. Industrial firms\u2019 profits grew 19.1% YoY in August. The data shows that whilst concerns are growing over a slowing economic recovery in Europe and the US, the economic recovery in China, the world\u2019s second largest economy has been gathering momentum. The Australian Dollar is also referred to as a China proxy.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">GBP Index Today - last 180 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/056cc4b98d7f823d0bdd2fbdcc284ff3.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-105342\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/056cc4b98d7f823d0bdd2fbdcc284ff3.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/056cc4b98d7f823d0bdd2fbdcc284ff3-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/056cc4b98d7f823d0bdd2fbdcc284ff3-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/056cc4b98d7f823d0bdd2fbdcc284ff3-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) trades high as hopes grow for a Brexit trade deal As the deadline of 15th October approaches Brexit headlines will be in focus Australian Dollar (AUD) trades higher versus peers on upbeat market mood &amp; China data Chinese factory profits rise for 4th straight month The Pound Australian Dollar (GBP\/AUD) exchange rate is [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47061,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[],"class_list":["post-105332","post","type-post","status-publish","format-standard","has-post-thumbnail","category-aud","category-gbp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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