- The Australian Dollar faces challenges following the mixed Producer Price Index data released on Friday.
- China’s Caixin Manufacturing PMI rose to 50.3 in October, up from September’s 49.3, surpassing the expected 49.7 reading.
- The US Dollar has struggled since the Personal Consumption Expenditures – Price Index data released on Thursday.
The Australian Dollar (AUD) remains tepid against the US Dollar (USD) following two days of gains, as Australia’s mixed Producer Price Index (PPI) data for the third quarter was released on Friday. However, expectations of a hawkish stance from the Reserve Bank of Australia (RBA) continue to support the Aussie Dollar, limiting losses in the AUD/USD pair.
Australia’s Producer Price Index rose by 0.9% quarter-on-quarter in Q3, following a 1.0% increase in the prior period and surpassing market forecasts of a 0.7% rise. This marks the 17th consecutive period of producer inflation. On an annual basis, the PPI growth slowed to 3.9% in Q3, down from the previous quarter’s 4.8% increase.
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