Australian Morning Focus

The report highlights persistent US inflation, revised Q1 GDP, and renewed tensions in the Strait of Hormuz affecting oil markets.

Key Takeaways

• 1.US PCE inflation remains elevated, prompting expectations that the Fed will hold rates steady into mid-2027.
• 2.Recent attack on a ship in the Strait of Hormuz has created uncertainty in energy markets, keeping oil prices supported.
• 3.US GDP growth for Q1 2026 was revised upward to 2.1%, though personal consumption growth was revised downward.

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
• Important Notice

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