# Aussie buoyed on open as Chinese stimulus appears to take hold - OFX

> The Australian dollar rallied on Friday and extended gains at the open, testing 0.7125 after stronger-than-expected Chinese PMI data showed manufacturing expanding for the first time in five months. Sterling fell below 1.30 after UK lawmakers rejected the Brexit plan for a third time.

- Date: 2019-03-31 · published 2019-03-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/60350-aussie-buoyed-on-open-as-chinese-stimulus-appears-to-take-hold-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Signs of Chinese stimulus support commodity demand and risk appetite, which tends to lift commodity-linked currencies like the AUD and weigh on the US dollar, relevant to feed import costs for Australian buyers.

## Read by commodity

- AUDUSD: bullish ▲
- GBPUSD: bearish ▼

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2019/04/01/aussie-buoyed-on-open-as-chinese-stimulus-appears-to-take-hold/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.