The Australian dollar had a violent downmove across the board after much worse than expected retail sales, down 0.5% in March compared to an expected +0.6%. The sell-off was somewhat contained by improved building approvals, which rose by 9.1% in March.
AUD/USD had a sharp decline of 60 pips to currently be pressing against 1.0700, 7-day low. AUD/NZD headed ferociously south, threatening now 1.3500 strong support. EUR/AUD spiked from 1.3800 to just break 1.3850. AUD/JPY crawled lower, finding support at 86.25.
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