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Australian Retail Sales and Building Approvals slump

Written by Sam Coxhead on July 4th, 2011.      0 comments

11:40 AM (AEST) The just released Australian Retail Sales and Building Approvals numbers showed weaker than expected activity in both sectors.

Retail Sales month/month -.6% vs +.3% expected
Building Approvals Month/Month -7.9% vs -.5% expected

The Australian dollar has seen strong selling pressure since the release and is down against all trading partners. Of note the largest move is against the NZD, currently down .6% on the day.

    Last 24 hours trade
  Current level Low High
NZD/USD 0.8287 0.8274 0.8298
AUD/USD 1.0725 1.0723 1.0788
NZD/AUD 0.7725 0.7677 0.7723
AUD/NZD 1.2945 1.2948 1.3026
NZD/GBP 0.5160 0.5154 0.516
NZD/EUR 0.5702 0.5698 0.5702
NZD/YEN 66.95 66.87 67.02
NZD/CAD 0.7955 0.7930 0.7959
 

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