Australian Dollar Doesn’t Get Help from Economic Data

The Australian dollar fell against its major rivals today (with the exception of the Japanese yen against which it traded almost flat) despite positive macroeconomic reports released from Australia over the current trading session.
Australian retail sales grew 0.4% in August from July while analysts had predicted an increase by just 0.2%. The Australian Industry Group Australian Performance of Services Index rose from 45.0 to 48.9 in September, though remained in the contraction territory. Yet the Australian dollar, which had rallied at the start of the Wednesday’s session, was unable to keep its gains and pulled back, trading below the opening level currently.
AUD/USD dropped from 0.7618 to 0.7610 as of 10:06 GMT today after rising to 0.7644 earlier. AUD/CHF went down from the open of 0.7455 to 0.7429, retreating from the daily high of 0.7476.

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