The Australian dollar has continued its slide against the major currencies after poor retail sales increased bets that interest rates would fall again soon.

The local dollar was buying around 103.6 US cents at 1:13pm (AEDT).

The Australian share market was up by 0.8 per cent, with most sectors advancing.

The All Ordinaries index had gained 41 points to 4,943, and the ASX 200 index had risen by 40 points to 4,923.

Consumer staple companies are again performing well, led by a 3.6 per cent gain for bread manufacturer Goodman Fielder.

Woolworths had risen 2.3 per cent, while the owner of the rival Coles supermarket group, Wesfarmers, was up 1.6 per cent.

Energy companies were also among the strongest performers.

Santos had risen almost 2 per cent to $12.08, and Caltex was 1.2 per cent higher.

Building materials firm Boral has offset recent losses by rising 4.2 per cent to $4.97.

However, investors have continued to show their disappointment with hearing implant company Cochlear over its half-year results yesterday, with shares slipping another 3.7 per cent after tumbling more than 9 per cent yesterday.