The Australian dollar fell against the euro and fluctuated after dropping versus the US dollar and the Japanese yen as the negative impact of the declining GDP and traded balance surplus overshadowed the positive influence of the growing retail sales.
The Australian retail sales (seasonally adjusted) grew 1.1 percent in April, following the decline by 0.3 percent in March. The gross domestic product contracted 1.2 percent in the first quarter of 2011 after it expanded 0.8 percent in the fourth quarter of 2010. The trade balance surplus was A$1.557 billion in April, compared to A$1.691 billion in March.
The fall of stocks because of the negative macroeconomic data from the US and China added a downward pressure on the Australian currency. The Standard & Poorâs 500 Index slipped 2.3 percent yesterday, while the MSCI Asia Pacific Index of regional shares subtracted 1.8 percent today.
EUR/AUD rose to 1.3529 from 1.3496 today as of 5:37 GMT following the drop to 1.3466. AUD/USD traded at 1.0611 after it fell yesterday from 1.0699 to 1.0615. AUD/JPY traded near 85.98 after declining yesterday from 86.99 to 85.90.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
