Australian Morning Focus

Global markets are reacting to the US-Iran peace deal which has reopened the Strait of Hormuz, easing energy supply concerns. Concurrently, the Federal Reserve maintains a hawkish bias despite market expectations of stable rates.

Key Takeaways

• 1.The US-Iran peace deal has taken effect, leading to the reopening of the Strait of Hormuz and a resumption of oil/gas supplies.
• 2.The Federal Reserve's recent dot plot signals a hawkish shift as it prioritizes returning inflation to target, resulting in a neutral-to-hawkish bias for interest rates.
• 3.The Bank of England held rates steady at 3.75%, with expectations of remaining on hold until a potential resumption of cuts in Q4.

Table of Contents

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

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