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Aussie Dollar Falls After Trade Balance, Retail Sales Reports

(July 4 - 9:35pm) Australia's dollar fell after the release of trade balance and retail sales data for May.

The Aussie slid 0.4 percent to 75.11 U.S. cents at 11;31 a.m. in Sydney from Monday.

The trade deficit was A$2.2 billion in May, compared with the A$1.7 billion shortfall median estimate in a Bloomberg survey of economists. Retail Sales rose 0.2 percent, compared with an increase of 0.3 percent forecast in a separate Bloomberg poll.

Australia's dollar also weakened amid speculation the central bank will stand pat at a policy meeting on Tuesday to assess the implication of an indecisive political election and ongoing Brexit fallout before resuming interest rate cuts.

Bloomberg (by Narayanan Somasundaram)






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