New Zealand Morning Focus

Global equity markets rallied and oil prices dropped following a preliminary agreement between the US and Iran. Central banks remain in a cautious holding pattern ahead of upcoming policy meetings.

Key Takeaways

• 1.Global markets rallied on news of a US-Iran MoU, leading to lower oil prices and rising equity indices.
• 2.US industrial production showed a slight increase of 0.1% in May, following a strong April.
• 3.Central banks, including the BoJ, BoE, and FOMC, are maintaining a cautious stance, with limited immediate reaction anticipated from the Iran deal.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views

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