Market Opportunities : Week 04-09-2023 - 08-09-2023

AUDUSD: Reserve Bank of Australia interest rate decision on September 5 is an important event in the September 4 – 8 week. Majority of traders expect the central bank of Australia will stand pat again after last 25 basis point hike in the benchmark rate on June 6. Another 25 basis point rate hike at RBA’s July meeting will give the AUDUSD a bullish boost.

USDCNH: China’s consumer and producer prices reports for August is an important event for forex markets due September 7. The performance of China’s economy is an important gauge of the state of global economy as China supplies manufactured goods to most countries of the world. The Chinese economy is experiencing deflationary pressures. There is a possibility the Consumer Price Index and Producer Prices Index reports may indicate lower prices than expected which will be bullish for USDCNH.