The Australian dollar continued to be weak against the other major currencies in the Asian session on Thursday, after data showed that the nation's retail sales fell more-than-expected in July.

Data from the Australian Bureau of Statistics showed that the total value of retail sales in Australia was down a seasonally adjusted 0.1 percent on month in July, coming in at A$24.311 billion. That was well shy of forecasts for an increase of 0.4 percent following the downwardly revised 0.6 percent gain in June.

At the same time, the ABS also said Australia posted a seasonally adjusted merchandise trade deficit of A$2.46 billion in July, marking a 19 percent monthly gain. The headline figure topped expectations for a deficit of A$3.16 billion following the A$3.05 billion shortfall in the previous month.

Exports were up A$612 million or 2.0 percent on month to A$26.903 billion.

Meanwhile, the Australian stocks traded lower on the back of disappointing retail sales data for the month of July. The Australia's benchmark S&P/ASX200 Index is currently down 34.20 points or 0.67 percent at 5,067. The broader All Ordinaries Index is also currently down 36.10 points or 0.71 percent at 5,083.

Wednesday, the Australian dollar fell against its major rivals after data showed that the nation's economy grew at a slower-than-expected pace in the second quarter of 2015. The Australian dollar fell 0.34 percent against the U.S. dollar, 1.14 percent against the yen, 0.13 percent against the euro and 0.01 percent against the NZ dollar.

In the Asian trading, the Australian dollar fell to 84.29 against the yen and 1.6023 against the euro, from early 2-day highs of 85.13 and 1.5883, respectively. At yesterday's close, the aussie was trading at 84.68 against the yen and 1.5946 against the euro. If the aussie extends its downtrend, it is likely to find support around 81.00 against the yen and 1.66 against the euro.

Against the U.S. and the Canadian dollars, the aussie dropped to 0.7002 and 0.9294 from early 2-day highs of 0.7061 and 0.9365, respectively. The aussie closed yesterday's deals at 0.7037 against the greenback and 0.9336 against the loonie. On the downside, 0.69 against the greenback and 0.92 against the loonie are seen as the next support level for the aussie.

The aussie edged down to 1.1014 against the NZ dollar, from an early high of 1.1089. At yesterday's close, the aussie was trading at 1.1074 against the kiwi. The aussie may test support near the 1.08 region.

Looking ahead, PMI reports from major European economies for August and Eurozone retail trade data for July are due to be released in the European session.

The European Central bank will announce its interest rate decision at 7:45 am ET. Economists expect the interest rate to be left unchanged at 0.05 percent. Following the announcement, European Central Bank President Mario Draghi will hold the customary post-meeting press conference at 8:30 am ET.

In the New York session, Canada and U.S. trade data for July, U.S. weekly jobless claims for the week ended August 29 and U.S. ISM non-manufacturing PMI for August are slated for release.

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