[MARKET ANALYSIS] Uneventful trade across FX whilst AUD awaits the RBA

DXY trades flat with a mild upside bias as it edged above the 98.50 market before encountering some resistance at 98.55. EUR/USD is uneventful in a narrow 1.1680-93 parameter with fresh catalysts from the bloc light. GBP/USD also takes a breather following yesterday’s USD-induced losses, with the pair in a tight 1.3516-1.3535 range vs yesterday’s 1.3512 low. USD/JPY is calm thus far in the APAC session, but the pair meanders just under what seems like a line in the sand around the 157.30 mark, with Japanese participants awaiting until May 6th. Antipodeans tilt modestly lower amid their high-beta properties and the overall downbeat mood, with the AUD looking ahead to the RBA rate decision at 05:30 BST in which a rate hike is expected, whilst the presser at 06:30 BST will be digested for any split in views alongside the deliberations ahead of the announcement.