Aust dollar slides in early trade

Local currency softens after release of weak economic indicators from Europe.

The Australian dollar is lower after the release of a range of weak economic indicators from Europe.

At 0630 AEDT, the local unit was trading at 96.14 US cents, down from 96.66 cents on Thursday.

The French purchasing managers' index (PMI) showed that manufacturing activity fell in October.

In Germany, the manufacturing sector managed to remain relatively firm but service sector activity grew at a much slower rate.

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