Australian Morning Focus

Global markets were impacted by US-Iran geopolitical tensions, leading to a rise in oil prices and a sell-off in equities. Meanwhile, US May core CPI data came in below consensus, providing some comfort regarding inflationary pressures.

Key Takeaways

• 1.Escalating US-Iran tensions in the Middle East have driven oil prices higher while weighing on broader global equity market sentiment.
• 2.US core inflation data for May showed signs of moderation, rising 0.2% m/m, though headline inflation remained elevated at 4.2% y/y.

Table of Contents

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