Australian Morning Focus

ANZ provides a daily market overview highlighting the Federal Reserve's hawkish hold, US retail data, and upcoming UK policy decisions. Market sentiment was dampened by the Fed's outlook, resulting in lower equity indices and gold prices.

Key Takeaways

• 1.The US Fed held interest rates steady but delivered a hawkish surprise with forward guidance.
• 2.US May retail sales grew by 0.9% m/m, though volume growth was softer when adjusted for CPI.
• 3.UK inflation remains steady, with potential political volatility ahead regarding the Makerfield byelection.

Table of Contents

• Highlights
• Today (AEST)
• Global markets overview
• Data/event pulse
• Key themes and views
• Market at 6:45am today
• Key data releases
• What's ahead today
• Commodities

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