Bungie updated Xur's location and the items on sale. His new inventory features PvE-centric items but some of them can be still useful in PvP as well.
Xur is located in Giant's Scar on Io this week. To get to his location, spawn in Giant's scar, go through the passage in the massive wall in front of you and hug the left wall as soon as you get through it. Continue moving while hugging the left wall until you run into a cave entrance to meet the tentacle Santa.
Riskrunner is the weapon in Xur's inventory for the second week in a row. While it excels in PvE against Arc energy users such as the Fallen, the weapon can be useful in PvP as well. The SMG basically uses incoming Arc energy as a steroid that gives players both resistance to it and increases its own damage output at the same time.
Mask of the Quiet One is the armour piece that Titans can purchase from Xur for the duration of the weekend. It can be extremely useful against hordes of enemies in PvE as incoming damage will charge Melee, Grenade and the Class ability. It is perfect for packed encounters such as the ones found in the Menagerie. While it could be useful in PvP, it just cannot compare with One-Eyed Mask.
Skull of Dire Ahamkara is the Warlock Exotic of the week. This is basically the space mages' version of Shards of Galanor. It provides bonus resistance while casting Nova Bomb and kills with it grant Super Energy which can make the super borderline spammable in PvE. In PvP, its usefulness is debatable.
Ophidia Spathe is the Hunters' Exotic chest piece that's featured by Xur. It allows for an additional charge of the melee ability which could definitely be useful in PvE as the knife throw deals decent damage. In PvP, this item will be only useful if you are well-versed in knife throwing.