by Chris Becker
The Australian dollar was dumped straight down to 70 cents on the poor retail sales print this morning:
Stocks were shocked too with a 1% plus open now turning into a broad retreat, especially as Myers opened down over 25% on its huge capital raising. The ASX200 is now down almost 1% before lunch.
It was a shocker on expectations at least, with a -0.1% result for July, against a +0.4% expected result. Economist predictions hey?
Trade balance came in a litle better than expected but still a mammoth deficit.
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More from LVO soon on both prints.