Morning Market Update

This report summarizes key market developments including the Bank of Japan's rate hike, revised oil price forecasts following a Strait of Hormuz deal, lackluster Chinese economic data, and the RBA's decision to hold rates.

Key Takeaways

• 1.The Bank of Japan hiked rates by 25bp and continues to guide toward further normalization.
• 2.Goldman Sachs lowered its Brent oil price forecasts for 2026 and 2027 following news of a deal to reopen the Strait of Hormuz.
• 3.China's May activity data missed expectations, highlighting weak domestic demand.

Table of Contents

• 1) BoJ Recap
• 2) COMMODITIES RESEARCH (STRUYVEN) – Reducing Our Price Forecast on Deal to Reopen Hormuz
• 3) China Data
• 4) RBA Recap

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