Australian Morning Focus

Global markets are shifting to a risk-on tone following reports of a potential US-Iran ceasefire, leading to a significant drop in oil prices. Meanwhile, investors are preparing for mixed Eurozone inflation data and the release of Australian Q1 GDP figures.

Key Takeaways

• 1.Prospects of a US-Iran deal are driving market sentiment, leading to lower oil prices and a risk-on tone in equities.
• 2.Euro area inflation data for May is mixed; however, an ECB rate hike in June is almost fully priced in by the market.
• 3.ANZ forecasts a 0.5% q/q rise for Australian Q1 GDP, noting high equipment spending but expecting an offset from import volumes.

Table of Contents

• Highlights
• Today (AEST)
• Global markets overview
• Data/event pulse
• Key themes and views
• Commodities
• Important Notice

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