AUD Struggles as China's Economic Data Fails to Boost Aussie Dollar

Australia's currency is struggling to gain traction despite solid economic data from China. The AUD/USD pair extended its losses for the third straight day, trading around 0.6970 during Asian hours on Wednesday.

In Australia, the Consumer Price Index (CPI) accelerated to 4.0% year-over-year in August, while the monthly inflation rate eased to 0.4%. However, the Trimmed Mean CPI came in slightly weaker than anticipated, cooling to 0.2% from 0.3%.

In China, the Manufacturing PMI rose to 52.1 in September, signaling steady economic growth. The Services PMI also edged up to 51.6, beating market expectations and indicating improvement across various industries.