Highlights

Investors will be interested in the most recent retail sales numbers for the month of March. Which will be released on today (May 7th).
Given the face of persistent rising prices, Australia’s Reserve Bank’s interest rate decisions and news briefing will draw interest from the market and AUDUSD price..
Late during the Tuesday period, traders should monitor the RCM/TIPP The economy optimism Indicator and  U.S Fed buzz.

Traders ought to follow the BoJ’s’s statements after the current rally in the JPY

Australia’s sales to retailers and  the Central Bank

This Tuesday (May 7th), completed sales at retail numbers may impact consumer sentiment towards the AUDUSD pair. Based to the initial estimate, sales at retailers fell 0.2 percent in March. Following increasing by 0.2 percent in Feb. Higher adjustments for retail volumes might raise expectations of an increased hardline Bank rate policy.

Spending by consumers contributes to influenced by demand inflationary trends. Following the current inflation data, the Reserve Bank of Australia may adopt an additional hardline monetary policies posture.  Raising costs for borrowing and reducing financial freedom. People may be forced to reduce their expenditure on unnecessary products when discretionary income declines.

AUDUSD Technical Analysis

The AUDUSD traded over the 50 & 200 D- EMAs, confirming positive pricing signs.If the Aussie breaks over the $0.6650 threshold, bull might make an attempt towards the $0.67002 barrier mark.

Over the Asian trading, traders should monitor sales at retail numbers as well as the RBA’s news briefing.

In contrast, if the AUDUSD falls under $0.66, the $0.65761 supporting area with 200 D- EMA will enter onto action. A collapse across the 200D -EMA might indicate a decrease to the 50 D- Exponential MA.

Considering a 14-time frame Every day RSI value of 61.13, the AUDUSD could rally over the $0.67002 hurdle prior approaching overvalued terrain.

Neat-term exposure Projection

The RBA’s rate announcement and presser will determine the near-term AUDUSD movement. Following higher-than-expected Aussie inflation figures, an increased aggressive central bank posture may shift economic policy disparity towards the Australian currency.

Technical Indicators & Signals

Daily Pivots

Technical Indicators

USDJPY Daily Price Analysis

Jibun Bank Services PMI with the BoJ

Today (May 7th, Japanese’s official service industry PMI statistics will concentrate upon the USDJPY with the BoJ. Based on initial information, the Jibun Bank Service PMI rose from 54.1 – 54.6 in the month of April.

Higher adjustments in the initial PMI may enhance forecasts of a near-term the Board of Japan rates rise.

The service industry area accounts for over 60 percent of the Japan’s economy. Higher increases in service industry activities could suggest a better economic outlook. Nevertheless, speculators ought to evaluate the parts., such as jobs and input pricing.

The BoJ anticipates that its services industry will assist in prompted by demand rising prices, allowing it to boost rate of interest.

USDJPY Technical Analysis

The USDJPY remained over the 50 & 200 D- EMAs, showing positive price signs.

A USDJPY breach over the 155 mark could encourage a climb to the 158 target. A rebound towards the 158 mark might allow for the bullish to challenge their April 29th peak of 160.209 mark.
Investors should pay close focus to the Japanese service industry PMI statistics and monetary authority remarks.
On the other hand, the US dollar versus yen breach under the 50 D- Exponential moving average, could suggest a decline towards the 151.685 supporting area.
The 14 D- time-frame RSI of 51.33 suggests a USDJPY rise towards the 158 level. Prior to reaching overheated zone.

Daily Technical Indicators