Breakfast Briefing | 1 July 2026 | Oil Eases, Yen Sinks to 39-Year Low

A busy morning offshore, with oil and the yen leading.● Oil continues to ease despite an unresolved Persian Gulf standoff, with the US benchmark at just on USD 69.50/bbl and Brent near USD 73/bbl. A growing Chinese EV share of global car sales is one reason markets see softer crude demand ahead.● The Japanese yen has slipped past 162 to the US dollar, its weakest in 39 years, with a two-month intervention effort failing to stem the slide.● US consumer sentiment disappointed in June. Almost a quarter of respondents now describe jobs as hard to get, the highest reading since early 2021.● German inflation eased to 2.3% in June, helped by lower energy prices.Markets: AUD/USD at 69.2 USc, the Australian 10-year bond yield at 4.72%, the US 10-year Treasury at 4.43%, gold around USD 4,026/oz, and bitcoin at USD 58,325.Full report and all the latest rates at interest.com.au.https://www.interest.com.au/economy/742/us-data-mixed-canada-grows-china-marks-time-german-inflation-eases-eyes-yen-rocket-lab#BreakfastBriefing #RBA #InterestRates #AustralianEconomy #interestcomau #OilMarkets #JapaneseYen #GlobalEconomy #FixedIncome #Commodities