The Producer Price Index (PPI) in Australia eased to 3.8% on a yearly basis in the third quarter (Q3) from the 3.9% seen in the previous quarter, the data published by the Australian Bureau of Statistics revealed on Friday.

On a quarterly basis, the nation’s PPI came in at 1.8% from the previous reading of 0.5%.

Market reaction

The Australian Dollar picks up bid following the Australia’s PPI data. At the press time, the AUD/USD pair is adding 0.22% on the day to trade at 0.6336