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Australian Dollar depreciates following PPI, China Manufacturing PMI
The Australian Dollar (AUD) edges lower 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 ... (full story)
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- Posted: Oct 31, 2024 10:33pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 5,692
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