Aussie Back Depressed After Retail Sales Data...

The Australian dollar turned weaker in the Asian session trading Thursday after the release of disappointing retail sales data. However, trade data were better than expected Aussie still limit the decline.

Australian retail sales was down 0.1% in July, the first decline since May last year, following flat growth in food sales and a decline in sales of household goods for the first time since March. The results dispelled the estimated increase of 0.4% from economists.

While at the same time the Australian trade deficit for July was reported shrank to A $ 2.460 billion, better than the estimated deficit of A $ 3.10 billion. But the deficit figures in June were revised up to A $ 3.05 billion from the initial publication which showed a deficit of A $ 2.93 billion.

AUDUSD is currently trading around $ 0.7020, or approximately 0.25% below the closing price on Wednesday.