• Asian shares were mixed on Tuesday, with some markets closed or anticipating holidays.So far, markets do not react in any particular way to the latest development in the U.S. banking sector.
• Japan’s Nikkei 225 (JAP225) is down 0.3% to 29,150 with no trading sessions in Tokyo for the rest of the week due to the Golden Week holidays.
• The Reserve Bank of Australia (RBA) held a policy meeting at 5:30 (BST). Unexpectedly, RBA raised the official cash rate to 3.85%. This came as a surprise to investors who had expected the RBA to keep OCR unchanged. 
• The Australian dollar rose to its highest level in a week due to an unexpected rate hike. In fact, the bank even suggested that there could be more rate increases in the future. AUDUSD is trading 1.2% higher  at 0.6706. 
• The Reserve Bank Board of RBA is concerned that predictions of continued high inflation will lead to bigger rises in both prices and wages. RBA also stated that soft landing will be difficult to achieve.
• Markets are bracing for the U.S. Federal Reserve’s upcoming interest rate decision, with oil prices and currencies remaining relatively stable. Oil Brent is trading at $79.4 and is up 0.05%. The US dollar depreciated slightly with EURUSD trading 0.12% higher at 1.0989.
• Morgan Stanley is reportedly planning to start a new wave of job reductions due to concerns about expenses and the delay in dealmaking recovery due to fears of a recession. Sources suggest that a cut of around 3,000 positions globally by the end of this quarter is discussed.

The AUDUSD currency pair has risen to its highest level in a week, reaching 0.6704 points after rising from 0.66199 points. Currently, there have been no observed corrections in the price movement.