Australian Dollar Hit, December Retail Sales Data is Bad
fxbom.com
02:04 PM
In today’s trading the Australian dollar exchange rate seems to have decreased significantly. Aussie weakened after retail sales data in the month of December has decreased the unexpected. Sluggish retail sales figures which resulted in increasingly strong possibility that the central bank will lower Australia or RBA rate cut at tomorrow’s meeting.
December retail sales in Australia fell by 0.1% compared to November period. Retail sales figure is an unexpected decline. Previous estimates that it expects retail sales to increase by 0.2%. This condition is enough to make the Australian dollar experienced selling pressure.