{"id":99694,"date":"2020-05-01T12:56:31","date_gmt":"2020-05-01T16:56:31","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=99694"},"modified":"2020-05-01T12:15:23","modified_gmt":"2020-05-01T16:15:23","slug":"103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\/","title":{"rendered":"AUD\/USD: Aussie Drops but on Course for 4th Weekly Gain"},"content":{"rendered":"<p>The Australian dollar is down against the US dollar on Friday.<\/p>\n<p>Rekindled trade tensions between the US and China have seen investors dump the Australian dollar for a second day on fears that Australia might get caught in the middle.<\/p>\n<p>The dollar gained as a haven as Wall Street opened lower while many European stock markets were closed for the Labour Day holiday.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">AUD\/USD<\/a> was down by 68 pips (-1.04%) to 0.6443 as of 3pm GMT.<\/p>\n<p>The currency pair gave up the 0.65 handle before making short work of 0.645 then finding support. Yesterday the exchange rate fell -0.69% leaving it gripping onto a +0.9% weekly gain.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-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 EUR exchange rate<\/span><\/a><\/div>\n<h2>AUD: Australia plans early exit from lockdown<\/h2>\n<p>News on Australia\u2019s fight against the coronavirus was positive on Friday but the Aussie dollar was undone by political developments outside its borders.<\/p>\n<p>Australian Prime Minister announced his government will review the country\u2019s virus lockdown sooner than expected. The review will now take place on May 8 instead of May 11. Chief Medical Officer Brendan Murphy said \u201cWe have pretty convincingly flattened the curve.\u201d<\/p>\n<p>Australia\u2019s quicker exit from the pandemic goes a long way to explain the currency\u2019s winning streak over most major currencies including the dollar. The Aussie is still on course for its 4<sup>th<\/sup> weekly rise over the dollar and before Thursday had risen vs the dollar for the past six days.<\/p>\n<h2>USD: Investors seek safety in new trade tensions<\/h2>\n<p>Investors are now looking out toward a new possible headwind to the Aussie, and a reason to opt for the safety of US dollars: the rekindled trade war between the United States and China.<\/p>\n<p>The Australian dollar is often used as a proxy for China\u2019s economy because the Chinese yuan is controlled by the People\u2019s Bank of China. That\u2019s because China is Australia\u2019s biggest export market for its raw materials.<\/p>\n<p>The dollar has been gaining since yesterday\u2019s coronavirus briefing with US President Donald Trump where he questioned China\u2019s official narrative around the coronavirus, suggesting that the virus came out of a virus laboratory in Wuhan and that China purposely allowed the virus to spread.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian dollar is down against the US dollar on Friday. Rekindled trade tensions between the US and China have seen investors dump the Australian dollar for a second day on fears that Australia might get caught in the middle. The dollar gained as a haven as Wall Street opened lower while many European stock [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":3609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,2415,1398],"class_list":{"0":"post-99694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-aud-usd","11":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AUD\/USD: Aussie Drops but on Course for 4th Weekly Gain - 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\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\/\" \/>\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\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"AUD\\\/USD: Aussie Drops but on Course for 4th Weekly Gain\",\"datePublished\":\"2020-05-01T16:56:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/\"},\"wordCount\":395,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100048-gbp-aud-tory-lead-poll-falls.jpg\",\"keywords\":[\"aud\",\"aud\\\/usd\",\"usd\"],\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103125-aud-usd-aussie-drops-but-on-course-for-4th-weekly-gain\\\/\",\"name\":\"AUD\\\/USD: Aussie Drops but on Course for 4th Weekly Gain - 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