Market Opportunities : Week 02-10-2023 - 06-10-2023

AUDUSD: Reserve Bank of Australia interest rate decision on October 3 is an important event in the October 2 – 6 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.

USDIDX: United States Nonfarm Payrolls report on October 6 is the key economic event of the first week of October. The July Nonfarm Payrolls are expected to show US economy added 150 thousand new jobs - in case it adds more than the expected 150 thousand new jobs in the first month of fall the USDIDX will get a bullish boost.