ASX futures rise 0.2% after 1% slide to a six-week low
AI Market Summary
Geopolitical escalation in the Middle East lifted risk premia, with Brent crude jumping ~2.4% near $US99/bbl after reported Houthi attacks on Saudi energy facilities and renewed US strikes tied to Iran. Higher oil prices can tighten financial conditions and complicate the inflation outlook as markets price roughly a 70% chance of an RBA hike, while equities attempt a modest rebound after recent declines.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+5.54%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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Australian shares are set for a modest rebound after falling to a six-week low on Tuesday, with ASX futures up 0.2% this morning. The earlier decline followed reports that Iran-backed Houthis attacked Saudi energy facilities. Markets are pricing a roughly 70% chance of an interest rate hike later this month. Central bank officials say inflation remains the main challenge, with high living costs and rising rates continuing to squeeze households.
