Australian Dollar Gained After US Retail Sales Figures Put Pressure on Greenback_Economy_News

Australian Dollar Gained After US Retail Sales Figures Put Pressure on Greenback

Release date:2016-11-24 Views:23

Core Tip: THE Australian dollar gained after disappointing US retail sales figures put pressure on the greenback. At 6.30am AEST the local

THE Australian dollar gained after disappointing US retail sales figures put pressure on the greenback.

At 6.30am AEST the local unit was trading at 91.02 US cents, up from 90.87 cents at yesterday's local close.

The Australian dollar was given a boost overnight after figures showed US retail sales rose 0.4 per cent in June, weaker than the 0.7 per cent that analysts had expected.

The lacklustre data put downward pressure on the US dollar as it gives the US Federal Reserve less reason to taper its economic stimulus program.

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Australian Dollar Gained After US Retail Sales Figures Put Pressure on Greenback