ASX to slip after Israel-Iran tensions fail to escalate. China loan rate decision expected later today. Oil and gold pare gains after Friday’s surge. Follow here for more.
The ASX is set to open higher on Monday as tensions between Israel and Iran appear to ease, leaving markets focused on crucial inflation data expected this week. ASX futures were 27 points higher on Monday at 7621, making the benchmark poised to recover some of the 2.8 per cent loss it posted over the past week.
Gold and oil prices also surged before paring gains after Tehran appeared to play down the retaliation, in a sign that further escalation might not occur. “The information out of the region suggests that Israel has chosen to retaliate but not escalate the situation,” said Marko Papic, an analyst at research firm Clocktower. Later today, China will unveil its latest rate decision, when it is expected to leave its 1- and 5-year rates on hold.
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