The Australian dollar is under pressure following August's terrible retail sales report

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The Australian dollar is under pressure in Asia on Thursday following the release of a terrible Australian retail sales report for August.

The AUD/USD currently trade at .7831, down 0.41% from Wednesday’s closing level. It briefly fell to as low of .7865 earlier in the session.

It’s also weaker against the crosses, as seen in the scoreboard below.

AUD/USD 0.7831 , -0.0032 , -0.41%
AUD/JPY 88.27 , -0.37 , -0.42%
AUD/CNH 5.2050 , -0.0221 , -0.42%
AUD/EUR 0.6660 , -0.0024 , -0.36%
AUD/GBP 0.5914 , -0.002 , -0.34%
AUD/NZD 1.0937 , -0.0028 , -0.26%

This latest bout of weakness follows the release of Australian retail sales for August.

Sales fell 0.6%, the steepest decline since March 2013. At 2.1%, annual growth in sales is now the weakest since July 2013, adding to concerns echoed by the RBA and IMF earlier this week on the outlook for household spending.

AUD/USD 30-Minute Chart

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