AUD/USD Drops Below 0.7750 after Retail Sales and Trade Data

The Australian dollar fell half a US cent after the release of disappointing retail spending figures.  Retail spending was unchanged in April, The Australian Bureau of Statistics said, which was worse than economists expectations of a 0.3 per cent rise.

Australia’s trade balance has stayed in the red with a deficit of $3.89 billion in April, following a deficit in March of $1.23 billion.  Economists had expected a deficit of $2.05 billion in April.

Exports fell six per cent, while imports were up four per cent, the Australian Bureau of Statistics said on Thursday.

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Stuart McPhee
Stuart McPhee

Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.