Australian Morning Focus

Risk-off sentiment dominated global markets as escalating Middle East conflict drove oil prices higher, while resilient US labor and services data support higher-for-longer rates.

Key Takeaways

• 1.Middle East tensions escalated significantly, with US-Iran strikes impacting energy markets and casting doubt on peace talks.
• 2.US economic indicators show resilience with better-than-expected ISM Services and ADP private payroll data.
• 3.Energy markets remain on edge due to low US stockpiles and North Asia LNG inventory shortages.

Table of Contents

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