• The Australian Dollar edges lower 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) 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 to 3.9% in Q3, down from the previous quarter’s 4.8% increase.

China’s Caixin Manufacturing Purchasing Managers Index (PMI) increased to 50.3 in October, up from 49.3 in September, surpassing market expectations of 49.7. As China is a key trade partner for Australia, shifts in the Chinese economy could significantly influence Australian markets.

The US Dollar (USD) faced challenges after the release of Personal Consumption Expenditures (PCE) - Price Index data on Thursday. However, the downside of the USD would be restrained due to prevailing market caution amid uncertainty ahead of the upcoming US presidential election.

Traders are awaiting the Nonfarm Payrolls (NFP) report set for release on Friday. The US economy is projected to have added 113,000 jobs in October, with the Unemployment Rate expected to remain unchanged at 4.1%.