Breakfast Briefing | 22 June 2026 | Strait of Hormuz in Focus

The week ahead will be shaped by the Strait of Hormuz, with Iran keeping the chokepoint closed and US-Iran talks in Geneva struggling for traction. Notably, oil prices eased over the week despite the tension, with US WTI back under USD 77.50/bbl.Key themes today:● Australian data week in focus: CPI 4.3%, jobs +30,000, household spending +4.1%, all feeding the Reserve Bank of Australia's interest rate outlook● Federal government extends fuel excise relief to the end of July● US PCE inflation report due, with analysts expecting a May reading close to 4%, keeping pressure on the Federal Reserve● China's central bank widely expected to hold its loan prime rates steadyMarket snapshot:● AUD/USD: 70.1 USc (down 80 bps for the week)● AU 10yr bond: 4.81% | US 10yr Treasury: 4.49%● Gold: USD 4,152/oz | WTI: USD 77.50/bbl | Brent: USD 80.50/bbl● Bitcoin: USD 63,124 (up 1.8%)Read the full Briefing with all source links: https://www.interest.com.au/economy/726/us-iran-talks-chaotic-eyes-us-pce-inflation-canada-loosens-bank-capital-buffers-europe#BreakfastBriefing #RBA #InterestRates #AustralianEconomy #interestcomau #StraitOfHormuz #OilMarkets #PCEInflation #MonetaryPolicy #FinancialMarkets