• The Australian Dollar remains under downward pressure due to recent weak economic data.
• RBA Governor Bullock stated that current interest rates will remain unchanged until the bank gains confidence in the inflation outlook.
• Fed Chair Powell noted that US economy performance has been "remarkably good," providing flexibility to ease interest rates gradually.

The Australian Dollar (AUD) continues its decline for the sixth consecutive session on Friday, hovering near three-month lows against the US Dollar (USD). The recent downward trend in the AUD/USD pair is largely due to key economic data from Australia.

However, the decline of the Aussie Dollar may be limited due to less dovish remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock on Thursday. Bullock stated that current interest rates are sufficiently restrictive and will stay at this level until the central bank gains confidence in the inflation outlook.

The US Dollar remains steady near its fresh 2024 highs, despite signs of slowing in "Trump trades." The US Dollar Index (DXY), which tracks the US Dollar’s performance against six major currencies, hovers around 107.06, marking its highest level since November 2023.

Markets are now focused on US October Retail Sales data, set to be released on Friday, along with comments from Federal Reserve officials. On Thursday, Fed Chair Jerome Powell noted that the recent performance of the US economy has been "remarkably good," allowing the Fed room to gradually lower interest rates.