{"id":70338,"date":"2023-10-02T11:34:00","date_gmt":"2023-10-02T08:34:00","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=70338"},"modified":"2025-12-01T10:43:14","modified_gmt":"2025-12-01T08:43:14","slug":"rba-to-remain-on-hold","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/en\/rba-to-remain-on-hold\/","title":{"rendered":"RBA to remain on hold"},"content":{"rendered":"\n<p>The USD tended to edge lower against its counterparts on Friday as consumption data slowed down, as did the core PCE price index growth rate, all being for August. The release tended to ease market worries about a possible overtightening of the Fed\u2019s monetary policy and helped to solidify the market\u2019s expectations that the bank has reached the end of its rate-hiking cycle. EUR\/USD edged lower, remaining between the 1.0515 (S1) support line and the 1.0635 (R1) resistance line. Given that the pair\u2019s price action remains below the downward trendline guiding it since the 18th of July, we tend to maintain our bearish outlook for EUR\/USD. Yet we have to note that the RSI indicator remains near the reading of 50, implying a rather indecisive market that may allow the pair to stabilise somewhat. Recent global central-bank expectations including developments around the RBA may also contribute to the current cautious tone. Should the bears maintain control over the pair, we expect it to break the 1.0515 (S1) support line and aim for the 1.0445 (S2) support level. Should the bulls take over, we may see EUR\/USD rising, breaking the prementioned downward trendline in a first signal that the downward motion has been interrupted and continue higher, breaking the 1.0635 (R1) resistance line.<\/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 to remain on hold\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/ps-aF2PCCCg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>During tomorrow\u2019s Asian session, we note the release of RBA\u2019s interest rate decision and the bank is expected to remain on hold at 4.1% which may weigh somewhat on the Aussie unless it is accompanied by a hawkish statement of RBA\u2019s new Governor Michelle Bullock. The possibility of the bank hiking rates, despite being considered in its last meeting, for the time being, is being viewed as remote given that the market prices in the bank to remain on hold by 91% according to AUDOIS.&nbsp;&nbsp;<\/p>\n\n\n\n<p>On a technical level, we note that AUD\/USD edged lower in the past two sessions, testing the 0.6400 (S1) support line. Given the pair\u2019s movement since the last days of August, we expect the wide sideways motion to be maintained and note that the RSI indicator, despite edging lower, is still near the reading of 50. Recent shifts in RBA expectations may also be contributing to the pair\u2019s muted tone. Should the selling interest intensify, we may see the pair breaking the 0.6400 (S1) support line and aim, if not break, the 0.6285 (S2) support level. Should buyers be in charge of the pair\u2019s direction, we may see it rising, breaking the 0.6515 (R1) resistance line and setting in its sights the 0.6620 (R2) resistance level.<\/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 we note the release of the UK\u2019s Nationwide house prices rate for September, Germany\u2019s Manufacturing PMI figure for September, the UK\u2019s final Manufacturing PMI figure for September, the Eurozone\u2019s Unemployment rate for August and the US S&amp;P final and ISM Manufacturing PMI figures for September. On a monetary level, we note that BoE\u2019s Mann is expected to speak, while markets continue to compare global policy tones with recent RBA signals. In tomorrow\u2019s Asian session, we note Cleveland Fed President Mester is speaking.<\/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<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>On Tuesday, we note Switzerland\u2019s CPI rates for September and the US JOLTS Job Openings figure for August. On Wednesday, we make a start with France\u2019s Services PMI figure for September, the Eurozone\u2019s Final Composite PMI figure, the UK\u2019s Final Composite figure, the US ADP National Employment figure and the US Final Composite PMI figure, all for the month of September, followed by the US factory orders rate for August and the US ISM Non-Manufacturing PMI figure for September. On Thursday, we note Australia\u2019s trade balance figure and Germany\u2019s export rate, both for the month of August data that may also influence expectations around future RBA decisions followed by the UK\u2019s Composite PMI figure for September, the US weekly initial jobless claims figure and Canada\u2019s trade balance figure for August. Finally, on Friday we note Germany\u2019s industrial orders rate for August, followed by the UK\u2019s Halifax House Prices rate for September, the US Non-Farm Payrolls figure, the Unemployment rate, Average Hourly Earnings and Canada\u2019s Employment data, all for the month of September.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-4-hour-chart\"><strong>EUR\/USD 4 Hour 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\/10\/image.png\" alt=\"RBA charts\" class=\"wp-image-70339\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0515 (S1), 1.0415 (S2), 1.0315 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0635 (R1), 1.0735 (R2), 1.0835 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-4-hour-rba-chart\"><strong>AUD\/USD 4 Hour RBA 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\/10\/image-1.png\" alt=\"RBA charts\" class=\"wp-image-70340\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6400 (S1), 0.6285 (S2), 0.6170 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6515 (R1), 0.6620 (R2), 0.6725 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"489\" src=\"\/wp-content\/uploads\/2023\/10\/image-2.png\" alt=\"\" class=\"wp-image-70341\" title=\"benchmark-02-10-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1059\" height=\"628\" src=\"\/wp-content\/uploads\/2023\/10\/image-5.png\" alt=\"\" class=\"wp-image-70344\" title=\"table-02-10-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"970\" src=\"\/wp-content\/uploads\/2023\/10\/image-3.png\" alt=\"\" class=\"wp-image-70342\" title=\"morning-releases-02-10-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"547\" src=\"\/wp-content\/uploads\/2023\/10\/image-4.png\" alt=\"\" class=\"wp-image-70343\" title=\"morning-releases-02-10-2023\"\/><\/figure>\n\n\n\n<p>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:reseach_team@ironfx.com\">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>\n","protected":false},"excerpt":{"rendered":"<p>The USD tended to edge lower against its counterparts on Friday as consumption data slowed down as did the core<\/p>\n","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-70338","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>RBA Expected to Hold Rates Steady in Latest Decision<\/title>\n<meta name=\"description\" content=\"The RBA is expected to keep rates on hold as markets look for signals on future policy direction and Australia\u2019s economic outlook.\" \/>\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\/en\/wp-json\/wp\/v2\/posts\/70338\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA to remain on hold\" \/>\n<meta property=\"og:description\" content=\"The RBA is expected to keep rates on hold as markets look for signals on future policy direction and Australia\u2019s economic outlook.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/en\/rba-to-remain-on-hold\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T08:34:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-01T08:43:14+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-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"RBA to remain on hold\",\"datePublished\":\"2023-10-02T08:34:00+00:00\",\"dateModified\":\"2025-12-01T08:43:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/\"},\"wordCount\":812,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/\",\"name\":\"RBA Expected to Hold Rates Steady in Latest Decision\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\"},\"datePublished\":\"2023-10-02T08:34:00+00:00\",\"dateModified\":\"2025-12-01T08:43:14+00:00\",\"description\":\"The RBA is expected to keep rates on hold as markets look for signals on future policy direction and Australia\u2019s economic outlook.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/rba-to-remain-on-hold\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBA to remain on hold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/en\\\/\",\"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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