Aussie Retreats as Retail Sales Drops in Q4 2010

The Australian dollar weakened a bit today as the report showed that the retail sales in Australia declined in the last quarter of the previous year.

The Australian retail sales declined 0.3 percent in the fourth quarter of 2010 on the seasonally adjusted basis, according to the estimates of the Australian Bureau of Statistics. On month-to-month basis the retail sales increased 0.2 percent in December (seasonally adjusted), less than 0.5 percent forecast by the analysts.

AUD/USD traded at 1.0121 as of 11:44 GMT, slightly lower than the opening price of 1.0133. EUR/AUD traded at about 1.3385, after it opened at 1.3383 and surged to 1.3439.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.