Friday, 2 September 2011

Australian Retails Sales Go Up, Aussie Follows

The Australian dollar advanced today against the euro and Japanese yen after the report showed that retail sales in July rose more than expected.

Australia retail sales rose 0.5 percent in July, while growth was 0.3 percent forecast. Retail sales fell 0.1 percent in June. MSCI Asia Pacific index gained 0.7 percent and the Standard & Poor's 500 Index advanced 0.5 percent.

EUR/AUD slipped from 1.3427 to 1.3349, while AUD/JPY climbed from 82.04 to 82.37 today as of 10:54 GMT.

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