Australian Retail Sales Miss Expectations, Aussie Touches Monthly Low
The Australian dollar touched the lowest level in a month against its US counterpart today after nation’s retail sales rose less than market participants have expected. The currency managed to rebound after the initial drop and currently trades near its opening level.
Australian retail sales rose 0.2 percent in August, while traders have hoped for an increase by 0.5 percent. The data added to concerns caused by yesterday’s poor report about trade balance. The Aussie fell sharply after the report, but rebounded almost as quickly. As of present, the Australian currency attempted to dip, but again did not hold losses.
AUD/USD traded at 1.0216 as of 10:10 GMT today, following the drop from 1.0213 to 1.0180 — the lowest price since September 6. AUD/JPY edged down from 80.16 to 79.88, but rebounded to 80.23.
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Earlier News About the Australian Dollar:
- More Bad News for Australian Dollar (2012-10-03)
- RBA Slashes Main Interest Rate, Making Aussie Weaker (2012-10-02)
- Aussie Uncertain Ahead of RBA Decision (2012-10-01)
- Aussie Drops as Gold Prices and Other Commodities Fall (2012-09-24)
- Aussie Gets Boost from News Out of Japan (2012-09-19)