Retail Sales Make Unpleasant Surprise, Sending AUD Down
The Australian dollar fell today, posting the fourth day of losses against its US counterpart, after the report showed an unexpected drop of the Australian retail sales.
Australian retail sales fell 0.5 percent in March, after the four month of increases, including the rise by 0.8 percent in February. Forecast promised a growth by 0.6 percent. The decline of sales shows that the Australian consumers remain cautious in their spending and unsure about their economic future.
AUD/USD fell from 1.0745 to 1.0662 and EUR/AUD jumped from 1.3791 to 1.3917 today as of 9:58 GMT.
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Earlier News About the Australian Dollar:
- Australian Dollar Declines as RBA Holds Interest Rates (2011-05-03)
- AUD & NZD Falls After Bin Laden's Death (2011-05-02)
- AUD Jumps to New Record Maximum vs. USD (2011-04-28)
- Aussie Jumps to New Record on Higher Export & Import Prices (2011-04-21)
- Australian Currency Looks Down When Demand for Safety Prevails (2011-04-19)
