Aussie falls on disappointing economic data

The Australian dollar fell against greenback today, after the release of weak economic data, despite upbeat statements that renewed hopes about the trade talks between the US and China.

Chinese sources revealed that Beijing is calling for tariff cuts in order to pave the way for the signing of the phase one of the trade deal.

The sources added that communication between the US and China are still in progress, in efforts to sign the trade deal and avoid the US planned tariffs hike against Chinese goods in Dec.15.

The Australian economy revealed that retail sales were unchanged in October at 0%, lower than forecasts of a rise by 0.3%, and the trade balance reached a surplus of about A$4.5 billion, lower than forecasts of A$6.5 billion.

As for trading, AUD/USD dipped 0.2% to 0.6832 as of 16:32 GMT, the pair hit an intraday high of 0.6855 and a low of 0.682.