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    AUD/USD Fell to 6-year Low of 0.7510 on Weak Retail Sales & China Stocks

    The Australian dollar continued to fall against the US dollar in Europe to 0.7510 from the high of 0.7596 (-86 pips) in thin trading as the U.S. market participants are away for the U.S. 4th of July Holiday. The aussie fell on a combination blow of a weak Australian Retail Sales and as the Shanghai Composite Index fell once again as the week draws to a close.

    The ausse opened in Asia at 0.7636 and fell from the high of 0.7649 to 0.7510 in Europe, down 139 pips on the intraday chart.

    Australia's May Retail Sales rose to 0.3% below the expected 0.5% forecast, while the previous month of April was revised down to -0.1% from 0%. 

    The Shanghai Composite Index had given much downward pressure on the AUD/USD in the European session. The benchmark index fell 5.8% to 3,686.92 at the close.

    AUD.7.3.2015 resized 600

    Chart: WorldWideMarkets Alpha Trader

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