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This week, the International Rescue Committee (IRC) hosted an event to launch new guidelines aimed at treating perinatal depression in Yemen. The Thinking Healthy Program Guideline, developed by the IRC and the Ministry of Public Health and Population in Yemen, will train community health workers to support expecting and new mothers with depression using cognitive behavioral techniques.

Japan's PMI Services for April finalized at 54.3, slightly up from March's 54.1. PMI Composite also saw an uptick, reaching 52.3, the highest level since August 2023.

In the aftermath of RBA's decision to maintain interest rates unchanged and the absence of explicit hawkish signals, Australian Dollar weakens mildly. Despite notable upgrades in inflation forecasts, the central bank opted for a cautious approach, refraining from signaling imminent rate hikes and maintaining a stance of "not ruling anything in or out." Recent stronger-than-expected inflation data did not push RBA closer to resume monetary tightening, at least for the time being.

Yen weakens broadly in Asian session, albeit in a subdued market environment due to Japan's holiday. Despite this, the selloff in the Japanese currency remains relatively contained, with traders vigilant of market intervention by Japan. While 160 level against Dollar is currently considered a floor for Yen, uncertainty persists regarding Japan's desired exchange rate, which they officially said it's not targeted. Nevertheless, absent further actions by the authority, the range for Yen consolidation appears to be nearly established.

As the market transitions into US session, Australian Dollar maintains its position as the strongest currency of the day. While no significant economic data is expected from the US or Canada, the focus shifts to appearances by SNB Chair Thomas Jordan, as well as Fed officials Thomas Barkin and John Williams. However, traders are expected to look through these events, anticipating insights from the RBA's decision.