Markets  |  February 06, 2013 08:25:00

Dear Australian dollar bad economy

Australian retail sales in December fell for the third time in a row. Australian Bureau measured static 0.2 percent drop in December. Total sales in mom measurement reached 21.42 billion Australian dollars. Revenues in 2012 experienced the growth of only 2.3 percent, which is mainly due to a weak final quarter.

Australia's central bank (RBA) yesterday kept interest rates at 3 percent. She had, however, his expression open space for further rate cuts, according to Governor Glenn Stevens RBA waits for the evolution of inflation, which will most likely grow.

QoQ sales grew by only 0.1 percent. Failed to support the growth of GDP in the last quarter of the 2012th The retail sector accounts for 17 percent of total Australian production, which is around 1.5 trillion Australian dollars.At the same time, the retail sector is the second largest employer. Australian companies are suffering because they face expensive Australian dollar, which reduces the price of imports.

Australian dollar during the Asian session broke through strong Fibonacci support level 50th Continue to hold the downward trend line. You are currently traded at 1.0342 previous lows. During the day, he could still return to trend line and then continue the bearish trend.

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