Ella 
The Australian dollar (AUD) held steady on Thursday after Australia released mixed economic data and China’s National Bureau of Statistics Purchasing Managers’ Index (PMI) data came out. However, hawkish expectations for the Reserve Bank of Australia’s (RBA) policy outlook continue to support the Australian dollar and limit the downside for AUD/USD.
Australian retail sales rose a seasonally adjusted 0.1% month-on-month in September, missing expectations of 0.3% and significantly lower than last month’s 0.7% gain. On a quarterly basis, retail sales rose 0.5% in the third quarter, rebounding from a 0.3% decline in the previous quarter.
The U.S. dollar (USD) is gaining some momentum amid lingering market caution amid uncertainty over the upcoming U.S. presidential election. However, the dollar encountered headwinds as U.S. gross domestic product (GDP) annualized growth increased 2.8% in the third quarter, down from 3.0% in the second quarter and the 3.0% forecast.
Traders are now focused on key upcoming U.S. data releases: personal consumption expenditures (PCE) inflation data on Thursday and non-farm payrolls (NFP) data on Friday.
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