China has decided to unveil a number of different proposals after policy makers became anxious over the recent slowdown in China over the last few months. The ideas include tax breaks for small companies , lower fees for exporters and the potential creation of further rail infrastructure. Recently Chinese growth has appeared to have slowed down which has impacted on the Australian Dollar exchange rate with Sterling strengthening against the Aussie.
China’s economic growth has slowed during April to June but still at a rate of 7.5% much more significant than what has come out in the UK and Europe. However, currency will tend to move on expectation rather than the actual numbers so even though the figures appear strong they are dropping which is having a negative impact on the strength of the Australian Dollar.
UK GDP figures out yesterday came in as expected so we didn’t see too much movement on GBPAUD exchange rates and there is little data due to come out during Friday so if you’re looking to transfer Australian Dollars feel free to get in touch with me via email Tom Holian [email protected]