The AUD/USD pair edged lower during the Asian session and extended its slide during the European trading hours. As of writing, the pair was down 0.37% on the day at 0.7743. Earlier in the day, the data from China revealed that Retail Sales in April rose by 17.7% on a yearly basis. This reading missed the market expectation for an increase of 24.9% by a wide margin and weighed on the China-sensitive AUD.
In the meantime, the risk-averse market environment is putting additional weight on the AUD's shoulders. Reflecting the sour mood, major European equity indexes are losing between 0.3% and 0.6%. Furthermore, the S&P 500 Futures are down 0.42%, suggesting that US stocks will be on the back foot after the opening bell. On the other hand, safe-haven flows are helping the greenback stay resilient against its rivals. At the moment, the US Dollar Index, which fell to a daily low of 90.17, is unchanged at 90.30.