{"id":85171,"date":"2020-01-17T04:32:52","date_gmt":"2020-01-17T09:32:52","guid":{"rendered":"https:\/\/currencylive.com\/?p=85171"},"modified":"2020-01-17T04:32:52","modified_gmt":"2020-01-17T09:32:52","slug":"102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\/","title":{"rendered":"GBP\/AUD: Aussie Stronger on China\u2019s Steady GDP Growth"},"content":{"rendered":"

GBP<\/a>\/AUD is declining in early trading on Friday, after gaining over 0.30% yesterday. Currently, one British pound buys 1.8937 Australian dollars, down 0.07% as of 6:35 AM UTC.<\/p>\n

The Aussie<\/a> is trying to make something out of China\u2019s gross domestic product (GDP) data. Earlier today, official data showed that China\u2019s economy increased by 6.0% year-on-year in the last quarter of 2019, in line with analysts\u2019 expectations. China is Australia\u2019s biggest trade partner by a margin, which is why any major change in Beijing\u2019s economic data might be reflected in the AUD pairs.<\/p>\n

In annual terms, China\u2019s economy <\/a>grew 6.1% last year, the slowest in about three decades, though still within the government\u2019s target range of 6-6.5%. In 2018, the GDP grew at a rate of 6.6%.<\/p>\n

China has experienced low demand at home and abroad amid a trade war with the US. The tensions have eased starting with the end of 2019 when Beijing and Washington reached consensus over a phase one trade deal. The document was signed earlier this week, prompting stock markets to update peaks.<\/p>\n

Louis Kuijs of Oxford Economics in Hong Kong said that stabilization of China\u2019s economic growth was apparently sustainable. He said<\/a>:<\/p>\n

\u201cWe have seen improvement in industry. We have seen efforts (from policymakers) to make sure the economy continues to grow, especially efforts in the financing of infrastructure.\u201d<\/em><\/p>\n

Indeed, several indicators showed signs of improvement, especially an unexpected increase in factory output and investment.<\/p>\n

China\u2019s industrial output grew 6.9% last month compared to December 2018, the strongest pace in nine months. Economists anticipated growth to slow to 5.9% from 6.2% in November.<\/p>\n

Fixed-asset investment increased by 5.4% for 2019, versus expectations for a 5.2% increase.<\/p>\n

Retail sales rose 8.0% last month year-on-year, after a similar performance in November. Analysts expected the indicator to increase by 7.8%.<\/p>\n

Elsewhere, the pound<\/a> has been under pressure after the Bank of England gave clear signals that it might cut the interest rate for the first time since 2016. A recent poll carried out by Reuters shows that 60 out of 68 economists expect the central bank to hold rates steady at the next meeting, but the chance for a rate cut increased considerably.<\/p>\n

Investec\u2019s Victoria Clarke commented<\/a>:<\/p>\n

\u201cIn recent days there has been heightened focus on the possibility that the Bank of England might opt to cut the 0.75% Bank rate over the coming months and perhaps even as soon as January 30.\u201d<\/em><\/p>\n

\n
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GBP\/AUD is declining in early trading on Friday, after gaining over 0.30% yesterday. Currently, one British pound buys 1.8937 Australian dollars, down 0.07% as of 6:35 AM UTC. The Aussie is trying to make something out of China\u2019s gross domestic product (GDP) data. Earlier today, official data showed that China\u2019s economy increased by 6.0% year-on-year […]<\/p>\n","protected":false},"author":163946598,"featured_media":3793,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1629,1394,2119,1387,1430,1624],"class_list":{"0":"post-85171","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-economics","11":"tag-gbp","12":"tag-industry","13":"tag-inflation","14":"tag-retail-sales","15":"tag-us-china-trade-deal"},"acf":[],"yoast_head":"\nGBP\/AUD: Aussie Stronger on China\u2019s Steady GDP Growth - 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\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/AUD: Aussie Stronger on China\u2019s Steady GDP Growth\",\"datePublished\":\"2020-01-17T09:32:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/\"},\"wordCount\":647,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100140-gbp-aud-tories-get-deal-dup.jpg\",\"keywords\":[\"aud\",\"economics\",\"gbp\",\"industry\",\"Inflation\",\"retail sales\",\"us china trade deal\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102097-gbp-aud-aussie-stronger-on-chinas-steady-gdp-growth\\\/\",\"name\":\"GBP\\\/AUD: Aussie Stronger on China\u2019s Steady GDP Growth - 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