Market Opportunities : Week 03-04-2023 - 07-04-2023

AUDUSD: Reserve Bank of Australia interest rate decision on April 4 is an important event in the April 3 – 7 week. Majority of traders expect a 25 basis point increase in the benchmark rate despite February retail sales report which indicated a slowdown from January in line with expectations. Confirmation of majority of policymakers’ support for further rate hikes will give the AUDUSD a bullish boost.

USDIDX: United States Nonfarm Payrolls report on April 7 is the key economic event of the first week of April. The March Nonfarm Payrolls are expected to show US private sector economy lost jobs in first month of spring, and in case the Federal Reserve implements another rate hike on April 7 – the USDIDX will get a bullish boost.