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The U.S. dollar softened initially on softer-than-expected September inflation, reinforcing expectations for continued Federal Reserve rate cuts, but later recovered as October S and P PMIs beat estimates and reversed earlier losses; in Europe, H C O B PMIs showed expansion in both manufacturing and services, with manufacturing rising above the fifty expansion threshold for the first time since August, helping the euro stabilize into Friday; meanwhile, the Canadian dollar underperformed amid heightened volatility after U.S. authorities canceled trade talks with Canada, adding policy uncertainty to an already anemic domestic backdrop.
