Australian dollar tumbles on disappointing economic data
June 4, 2015 7:47 am
The Australian dollar plummeted on Thursday after weak retail spending data and international trade figures.
Australian retail spending was even in April, hitting a $3.89 billion trade deficit, the largest in almost a year.
The Aussie ended at 68.60 euro cents from Wednesday’s 69.94 euro cents, and 77.23 US cents from 77.99 US cents.
Both economic figures could have been pulled the currency down. We anticipated a disappointing trade deficit “but didn’t expect to see one as bad as that,” said Robert Rennie, Chief Currency Strategist at Westpac.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar plummeted on Thursday after weak retail spending data and international trade figures.
Australian retail spending was even in April, hitting a $3.89 billion trade deficit, the largest in almost a year.
The Aussie ended at 68.60 euro cents from Wednesday’s 69.94 euro cents, and 77.23 US cents from 77.99 US cents.
Both economic figures could have been pulled the currency down. We anticipated a disappointing trade deficit “but didn’t expect to see one as bad as that,” said Robert Rennie, Chief Currency Strategist at Westpac.
The material has been provided by InstaForex Company – www.instaforex.com
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