Pound Sterling to Australian Dollar Exchange Rate Forecast: GBP/AUD Stronger after Chinese Data

Pound Sterling to Australian Dollar (GBP/AUD) Exchange Rate Jumps after Chinese Manufacturing Data

The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate advanced over the weekend as China’s Manufacturing PMI fell flat, adding to calls for the People’s Bank of China (PBOC) to introduce additional stimulus measures.
China’s manufacturing PMI dipped to 49.8 in January. This is the first time the measure has eased below the 50 mark separating growth from contraction for 2 1/2 years.
ANZ economists noted; ‘China still needs decent growth to add 100 million new jobs this year, plus China is entering a rapid disinflation process. We (think) the People’s Bank of China will cut the reserve requirement ratio by 50 basis points and cut the deposit rate by 25 basis points in the first quarter.’
The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate was trading in the region of 1.9476.
Read more Click here / www.trade4x.net