{"id":57031,"date":"2023-03-06T10:34:46","date_gmt":"2023-03-06T08:34:46","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=57031"},"modified":"2025-10-17T09:55:57","modified_gmt":"2025-10-17T06:55:57","slug":"rbas-interest-rate-decision-in-focus","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/ph\/rbas-interest-rate-decision-in-focus\/","title":{"rendered":"RBA\u2019s interest rate decision in focus"},"content":{"rendered":"<p>The USD edged lower on Friday and during today\u2019s Asian session, yet the overall picture of its sideways motion seems to be maintained for now. At the same time, we have to note that gold\u2019s price was able to take advantage of USD\u2019s slipping and edged higher while also US stockmarkets climbed higher on Friday, with all three major US stock market indexes, Dow Jones, S&amp;P 500 and Nasdaq being in the greens, supported from the improved market sentiment. Overall, in the coming week, we highlight the testimony of Fed Chairman Powell during tomorrow\u2019s American session as well as the release of the US employment report for February on Friday. During tomorrow\u2019s Asian session, we note the release of RBA\u2019s interest rate decision. The bank had already expressed its intentions for further rate hikes and the market expects the bank to deliver a 25-basis points rate hike in its next meeting. AUD OIS imply a probability of 82.3% for such a scenario. Should the bank actually hike rates we may see the Aussie getting some support as the market repositions itself, yet in such a case attention is expected to fall on RBA Governor Lowe\u2019s accompanying statement.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"RBA\u2019s interest rate decision in focus\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/gK5JE28D3i4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Should the bank maintain a confident, hawkish tone, foreshadowing more rate hikes to come, we may see the bullish effect on AUD intensifying as the market\u2019s expectations for the bank\u2019s hawkish intentions are to be verified. On the flip side, signs of hesitation and uncertainty, could turn the rate hike to a dovish hike and weaken the Aussie. &nbsp;<\/p>\n\n\n\n<p>EUR\/USD edged higher, yet seems to maintain its sideways motion between the 1.0715 (R1) and the 1.0575 (S1) levels. Despite our sideways movement bias, we would like to point out some slight bullish tendencies of the pair, given also that the RSI indicator has surpassed clearly the reading of 50 in a continuous upward movement. Should the bulls maintain control we may see the pair breaking the 1.0715 (R1) line and aim for higher grounds. Should the bears take over, we may see EUR\/USD diving below the 1.0575 (S1) level.<\/p>\n\n\n\n<p>AUD\/USD remains in a sideways motion between the 0.6720 (S1) and the 0.6800 (R1) levels which is also supported by the RSI indicator which is running along the reading of 50 currently. Yet RBA\u2019s interest rate decision could alter the pair\u2019s direction. Should a selling interest be expressed we may see the pair breaking the 0.6720 (S1) line, while should the bulls take over we may see the pair breaking the 0.6800 (R1) line.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in a busy European session, we note the release of Switzerland\u2019s CPI rates for February, Eurozone\u2019s construction PMI figure for February, Eurozone\u2019s Sentix index for March, UK\u2019s construction PMI figure for February, and\u00a0 Eurozone\u2019s retail sales growth rate for January. In the American session we note the release of the US factory orders growth rate for January. During tomorrow\u2019s Asian session, besides RBA\u2019s interest rate decision, we get Australia\u2019s trade data for January and China\u2019s trade data for February.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week<\/strong><\/h2>\n\n\n\n<p>On Tuesday we get Germany\u2019s industrial orders growth rate for January, while on the monetary front, Fed Chairman Jerome Powell speaks. On Wednesday we make a start with Japan\u2019s current account balance for January, Germany\u2019s industrial output for the same month, Eurozone\u2019s revised GDP rate for Q4 and Canada\u2019s trade data for January, while on the monetary front we note the release of BoC\u2019s interest rate decision. On Thursday we note the release of Japan\u2019s revised GDP rate for Q4, China\u2019s inflation metrics for February, Sweden\u2019s GDP rate for January and the US weekly initial jobless claims figure. On Friday during the Asian session, we note the release from Japan of BoJ\u2019s interest rate decision and later on we get UK\u2019s GDP and manufacturing output growth rates for January, Norway\u2019s CPI rates for February, the Czech Republic\u2019s CPI rates for the same month, Canada\u2019s employment data for February and highlight the release of the US employment report for February with its NFP figure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"943\" height=\"440\" src=\"\/wp-content\/uploads\/2023\/03\/image-23.png\" alt=\"support at one point zero five seven five and resistance at one point zero seven one five, direction sideways \" class=\"wp-image-57034\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0575 (S1), 1.0430 (S2), 1.0290 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0715 (R1), 1.0855 (R2), 1.1000 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"938\" height=\"435\" src=\"\/wp-content\/uploads\/2023\/03\/image-24.png\" alt=\"support at zero point six seven two and resistance at zero point six eight, direction sideways     \" class=\"wp-image-57036\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6720 (S1), 0.6625 (S2), 0.6545 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6800 (R1), 0.6900 (R2), 0.7010 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/03\/image-25.png\" alt=\"\" class=\"wp-image-57038\" width=\"606\" height=\"147\" title=\"benchmark-6-3-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1035\" height=\"606\" src=\"\/wp-content\/uploads\/2023\/03\/image-27.png\" alt=\"\" class=\"wp-image-57040\" title=\"table-6-3-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1026\" height=\"816\" src=\"\/wp-content\/uploads\/2023\/03\/image-26.png\" alt=\"\" class=\"wp-image-57039\" title=\"morning-releases-6-3-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD edged lower on Friday and during today\u2019s Asian session, yet the overall picture of its sideways motion seems<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-57031","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | RBA\u2019s interest rate decision in focus<\/title>\n<meta name=\"description\" content=\"The USD edged lower on Friday and during today\u2019s Asian session, yet the overall picture of its sideways motion seems to be maintained\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ph\/wp-json\/wp\/v2\/posts\/57031\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA\u2019s interest rate decision in focus\" \/>\n<meta property=\"og:description\" content=\"The USD edged lower on Friday and during today\u2019s Asian session, yet the overall picture of its sideways motion seems to be maintained\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/ph\/rbas-interest-rate-decision-in-focus\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-06T08:34:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-17T06:55:57+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"RBA\u2019s interest rate decision in focus\",\"datePublished\":\"2023-03-06T08:34:46+00:00\",\"dateModified\":\"2025-10-17T06:55:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/\"},\"wordCount\":803,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"tl\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/\",\"name\":\"Forex blog - IronFX\u2122 | RBA\u2019s interest rate decision in focus\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/#website\"},\"datePublished\":\"2023-03-06T08:34:46+00:00\",\"dateModified\":\"2025-10-17T06:55:57+00:00\",\"description\":\"The USD edged lower on Friday and during today\u2019s Asian session, yet the overall picture of its sideways motion seems to be maintained\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/#breadcrumb\"},\"inLanguage\":\"tl\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/rbas-interest-rate-decision-in-focus\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBA\u2019s interest rate decision in focus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/ph\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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