{"id":98346,"date":"2020-04-03T03:39:24","date_gmt":"2020-04-03T07:39:24","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=98346"},"modified":"2020-04-03T04:17:32","modified_gmt":"2020-04-03T08:17:32","slug":"102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\/","title":{"rendered":"GBP\/AUD Loses Momentum After 3 Straight Bullish Sessions"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\">GBP\/AUD<\/a> is slightly declining on Friday after three consecutive bullish sessions, though it still maintains above 2.00. Currently, the pair is trading at 2.0414, down 0.15% as of 7:10 AM UTC. During the previous three sessions, the price gained about 1.60%.<\/p>\n<p>At the moment, the price is trading close to the support line of a medium-term uptrend that started on March 25. If it breaks below it in the following hours, it can extend the decline.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to AUD exchange rate<\/span><\/a><\/div>\n<h2>Australian Retail Sales Beat Expectations in February<\/h2>\n<p>The Aussie is supported by retail sales data. Earlier Friday, the Australian Bureau of Statistics (ABS) reported that retail turnover increased 0.5% in February, up from the preliminary figure at 0.4% and from January\u2019s decline to -0.3%.<\/p>\n<p>Ben James of ABS <a href=\"https:\/\/www.abs.gov.au\/ausstats\/abs%40.nsf\/mediareleasesbyCatalogue\/06382DBE420D0C93CA25853E0028F5B0?OpenDocument\">commented<\/a>:<\/p>\n<p>\u201c<em>Retailers reported a range of impacts from COVID-19 in February, with increases in food retailing slightly offset by falls in more discretionary spending<\/em>.\u201d<\/p>\n<p>The ABS reported an increase in food retailing (0.8%), household goods retailing (0.7%), department stores (3.1%), cafes, restaurants and takeaway food services (0.2%), and other retailing. Elsewhere, clothing, footwear and personal accessory retailing declined 2.9%.<\/p>\n<p>Online retail sales contributed with 6.6% to the total figure, up from 5.6% reported in the same period last year.<\/p>\n<h2>Services PMI Sees Steepest Decline<\/h2>\n<p>However, Australia has recently tightened its social distancing measures, which will negatively affect the economy. This has been already reflected in the services sector data published yesterday. IHS Markit said that Australia\u2019s services purchasing managers index (PMI) tumbled last month to 38.5, after February\u2019s 49.0.<\/p>\n<p>The services industry saw a record decline in new overseas business. Business confidence dropped to a record low as well. The report <a href=\"https:\/\/www.markiteconomics.com\/Public\/Home\/PressRelease\/f3d5720571b543c29e4a774dbadfb0a5\">reads<\/a>:<\/p>\n<p>\u201c<em>Measures taken to control the spread of COVID-19 severely impacted the Australian service economy. Business activity slumped in March, falling at a rate unprecedented in the series history, with consumer services particularly hard hit. Services activity was also curtailed by bushfires and flooding reported in certain parts of Australia<\/em>.\u201d<\/p>\n<p>Australian businesses operating in the services sector are concerned about the economic downturn, declining consumer demand, and uncertainty over the duration of the coronavirus outbreak.<\/p>\n<p>The composite PMI, which merges both the services and manufacturing industries, dropped to 39.4 in March, from 49.0 in February.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/AUD is slightly declining on Friday after three consecutive bullish sessions, though it still maintains above 2.00. Currently, the pair is trading at 2.0414, down 0.15% as of 7:10 AM UTC. During the previous three sessions, the price gained about 1.60%. At the moment, the price is trading close to the support line of a [&hellip;]<\/p>\n","protected":false},"author":163946603,"featured_media":3761,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1394,1860,1430,2039],"class_list":{"0":"post-98346","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-gbp","11":"tag-gbp-aud","12":"tag-retail-sales","13":"tag-services-data"},"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 Loses Momentum After 3 Straight Bullish Sessions - 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\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\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\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3bd9732cd8453e3df154132a302a4416\"},\"headline\":\"GBP\\\/AUD Loses Momentum After 3 Straight Bullish Sessions\",\"datePublished\":\"2020-04-03T07:39:24+00:00\",\"dateModified\":\"2020-04-03T08:17:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/\"},\"wordCount\":393,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100124-gbp-aud-lose-4-percent-unstable.jpg\",\"keywords\":[\"aud\",\"gbp\",\"gbp\\\/aud\",\"retail sales\",\"services data\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102914-gbp-aud-loses-momentum-after-3-straight-bullish-sessions\\\/\",\"name\":\"GBP\\\/AUD Loses Momentum After 3 Straight Bullish Sessions - 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