{"id":61645,"date":"2023-05-02T09:46:21","date_gmt":"2023-05-02T06:46:21","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=61645"},"modified":"2025-10-17T09:54:10","modified_gmt":"2025-10-17T06:54:10","slug":"rba-in-the-spotlight","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/vi\/rba-in-the-spotlight\/","title":{"rendered":"RBA in the spotlight"},"content":{"rendered":"<p>The USD tended to remain relatively unchanged against its counterparts as the market enters a busy week ahead full of crucial financial releases and key monetary policy events, starting today with the US ISM manufacturing PMI figure for April. The release may intensify market worries for a possible recession as a possible drop, would imply further contraction of economic activity in the US manufacturing sector for the past month. In the FX market, we note the continuous weakening of JPY due to BoJ\u2019s dovish interest rate decision last Friday and also highlight the release of RBA\u2019s interest rate decision tomorrow during the Asian session. Please note that the bank is expected to remain on hold at 3.6% and should it signal the end of its rate hiking path we may see the Aussie relenting some ground. Please note that inflationary pressures in Australia seem to be easing, yet on the other hand, they still are at very high levels if compared to the bank\u2019s target range of 2.00%-3.00%. Also, we highlight the drop in China\u2019s NBS manufacturing PMI figure for April implying a contraction of economic activity in China\u2019s manufacturing sector, which may have an adverse effect on CNY, AUD and oil prices. Overall in the FX market we have high impact financial releases and monetary policy events that are stemming various countries around the world and could thus create a more balanced trading blend for traders. At the same time oil prices may be put under wider pressure should the Fed hike rates once again as it could imply a weaker demand from the US as well. Other than that, we note that US stock markets seemed to be more optimistic implying a more risk-on appetite as all major stock market indexes ended Friday in the greens. We expect that stock market participants may be influenced by the general market sentiment, yet may also continue keeping an eye out for earnings reports due out during the week.<\/p>\n\n\n\n<p>USD\/JPY continued its upward trajectory towards the 137.55 (R1) resistance line. We tend to maintain a bullish outlook for the pair yet note that the RSI indicator has surpassed the reading of 70, which highlight\u2019s the dominance of the bulls yet also may imply that the pair is at overbought levels and ripe for a correction lower. Should the bulls maintain control over the pair, we may see it breaking the R1 and take aim of the 140.65 (R2) resistance level. Should the bears be in charge of the pair\u2019s direction, we may see USD\/JPY reversing course breaking the 135.15 (S1) support line and aim for the 132.85 (S2) support level.\u00a0\u00a0<\/p>\n\n\n\n<p>AUD\/USD edged higher, nearing the 0.6640 (R1) resistance line. We tend to maintain our bias for the sideways motion to continue, given that the pair was unable to break above the R1 which forms the upper level of its range-bound movement. Should the bulls take over, we may see the pair, breaking the R1 and aim for the 0.6700 (R2) resistance level, while if the bears take over, we may see the pair breaking the 0.6675 (S1) support line and aim for the 0.6490 (S2) support level.\u00a0\u00a0\u00a0<\/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>During the American session Canada\u2019s Manufacturing PMI and the US ISM Manufacturing PMI figures for April. Please note the release of the FED\u2019s internal review of the SVB failure.<\/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>Tuesday, during the European session we note the UK\u2019s Nationwide House Price on a MoM basis and the Czech Republic\u2019s Preliminary GDP rate, the Eurozone\u2019s Preliminary HICP rate all for the month of April and the US Factory Orders for March. On Wednesday we get Turkey\u2019s CPI rate for April,\u00a0 CNB\u2019s interest rate decision and in the American session, we have the US ISM Non-Manufacturing PMI figure for April and the highlight of the day is to be the Fed\u2019s interest rate decision. On Thursday, we get New Zealand\u2019s HLFS Unemployment data for Q1, Australia\u2019s Trade data for March, China\u2019s Caixin Manufacturing PMI for April, UK services PMI figure, the US Weekly Initial Jobless Claims, Canada\u2019s Trade data for March and on the monetary front we note the release of Eurozone\u2019s ECB and Norway\u2019s Norges bank interest rate decisions. On Friday, we get the US employment report for April and note Canada\u2019s employment data for the same month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/05\/image.png\" alt=\"support at one hundred and thirty-five point fifteen and resistance at one hundred and thirty-seven point fifty five, direction upwards     \" class=\"wp-image-61646\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 135.15 (S1), 132.85 (S2), 130.50 (S3)<\/p>\n\n\n\n<p>Resistance: 137.55 (R1), 140.65 (R2), 142.45 (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=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/05\/image-1.png\" alt=\"support at zero point six five seven five and resistance at zero point six six four, direction \" class=\"wp-image-61647\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6575 (S1), 0.6490 (S2), 0.6400 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6640 (R1), 0.6700 (R2), 0.6790 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"495\" src=\"\/wp-content\/uploads\/2023\/05\/image-2.png\" alt=\"\" class=\"wp-image-61648\" title=\"benchmark-02-05-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"710\" height=\"551\" src=\"\/wp-content\/uploads\/2023\/05\/image-3.png\" alt=\"\" class=\"wp-image-61649\" title=\"morning-releases-02-05-2023\"\/><\/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 tended to remain relatively unchanged against its counterparts as the market enters a busy week ahead full of<\/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-61645","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 in the spotlight<\/title>\n<meta name=\"description\" content=\"The USD tended to remain relatively unchanged against its counterparts as the market enters a busy week ahead full\" \/>\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\/vi\/wp-json\/wp\/v2\/posts\/61645\/\" \/>\n<meta property=\"og:locale\" content=\"vi_VN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA in the spotlight\" \/>\n<meta property=\"og:description\" content=\"The USD tended to remain relatively unchanged against its counterparts as the market enters a busy week ahead full\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/vi\/rba-in-the-spotlight\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-02T06:46:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-17T06:54:10+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\\\/vi\\\/rba-in-the-spotlight\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"RBA in the spotlight\",\"datePublished\":\"2023-05-02T06:46:21+00:00\",\"dateModified\":\"2025-10-17T06:54:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/\"},\"wordCount\":831,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"vi\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/\",\"name\":\"Forex blog - IronFX\u2122 | RBA in the spotlight\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#website\"},\"datePublished\":\"2023-05-02T06:46:21+00:00\",\"dateModified\":\"2025-10-17T06:54:10+00:00\",\"description\":\"The USD tended to remain relatively unchanged against its counterparts as the market enters a busy week ahead full\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/#breadcrumb\"},\"inLanguage\":\"vi\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/rba-in-the-spotlight\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBA in the spotlight\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/vi\\\/\",\"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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