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June 17, 2026
The Markets Brief
ASX Pre-Market · 7:30am AEST
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Opening Note
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Market Bias
Mixed — Nasdaq down 1.15%, oil crashes 6%
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ASX Read
Flat to soft open; tech and energy drag offset by banks
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Main Driver
WTI oil -6% on Iran deal; Nasdaq -1.15%
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The ASX 200 faces a mixed open after a split Wall Street session — the S&P 500 fell 0.57% to 7,511.4 and the Nasdaq dropped 1.15% to 26,376.3, while the Dow added 0.64% to 51,999.7. The dominant overnight catalyst is WTI crude's 6.02% plunge to $75.83, triggered by a US-Iran peace deal that resumes Iranian oil exports and includes a $300 billion fund. The US 10-year yield eased to 4.43%, offering mild support to rate-sensitive names. Energy stocks face the sharpest headwind — Woodside and Origin, which each gained around 2% in Tuesday's session, are exposed to the oil price reset. Tech-linked names including WiseTech and Xero, already under pressure, face further drag from the Nasdaq selloff. Banks, which outperformed Tuesday, may retain some support given the rates move. Iron ore names remain caught between India optimism and ongoing China demand uncertainty, with BHP and Rio Tinto trading mixed signals.
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Market Tape
| S&P 500 fell 0.57% to 7,511.4; Nasdaq -1.15% to 26,376.3 — drags on ASX tech and growth names | | ASX 200 closed +0.04% at 8,917.7 Tuesday — marginal base; sector rotation into banks and energy now reversing on oil | | WTI crude -6.02% to $75.83 on Iran deal resuming oil exports — direct headwind for ASX energy stocks | | US 10Y yield fell to 4.43% (-0.92%) — mild support for rate-sensitive banks and REITs, partially offsetting equity weakness |
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The Read
| The 6% oil crash is the sharpest single-session sector catalyst for Australian equities today, directly threatening the energy gains that lifted Woodside +1.97% and Origin +1.96% on Tuesday. | | The Iran deal transmission channel runs through WTI to LNG pricing sentiment, ASX energy stocks, and broader inflation expectations that feed into RBA rate-cut timing. |
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Stocks In Play
| WDS (Woodside) — WTI crude -6.02% to $75.83 on Iran deal; reverses Tuesday's +1.97% gain; energy sector under direct pressure | | ORG (Origin Energy) — same Iran/oil catalyst as Woodside; +1.96% Tuesday now faces sharp reversal at open | | WTC (WiseTech) — Nasdaq -1.15% amplifies existing selling pressure after -4.22% Tuesday; tech sentiment deteriorating |
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Markets at a Glance
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Indices
| ASX 200 |
8,917.7 |
▲ +0.04% |
| S&P 500 |
7,511.4 |
▼ -0.57% |
| Dow Jones |
51,999.7 |
▲ +0.64% |
| Nasdaq |
26,376.3 |
▼ -1.15% |
FX
| AUD/USD |
0.7068 |
▼ -0.06% |
| AUD/GBP |
0.5257 |
▼ -0.17% |
| AUD/EUR |
0.6085 |
▼ -0.23% |
| AUD/JPY |
113.3100 |
▼ -0.02% |
Rates
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Commodities
| Gold |
$4,353.00 |
▲ +0.04% |
| WTI Oil |
$75.83 |
▼ -6.02% |
| Copper |
$6.48 |
▲ +0.22% |
Crypto
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ASX Market Movers · Previous Session
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▲ Top Gainers
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COH
Cochlear
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$106.86 |
▲ +2.31% |
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NEM
Newmont
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$150.16 |
▲ +2.02% |
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WDS
Woodside
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$30.04 |
▲ +1.97% |
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ORG
Origin Energy
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$10.94 |
▲ +1.96% |
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WBC
Westpac
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$35.75 |
▲ +1.22% |
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WHC
Whitehaven Coal
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$8.55 |
▲ +1.18% |
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NAB
NAB
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$37.89 |
▲ +1.15% |
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ASX
ASX Ltd
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$50.96 |
▲ +0.99% |
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▼ Top Losers
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PLS
Pilbara Minerals
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$6.19 |
▼ -4.48% |
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S32
South32
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$4.27 |
▼ -4.47% |
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WTC
WiseTech
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$36.79 |
▼ -4.22% |
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IGO
IGO
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$8.77 |
▼ -2.56% |
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SGP
Stockland
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$4.26 |
▼ -2.52% |
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TNE
Technology One
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$30.76 |
▼ -1.98% |
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TCL
Transurban
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$15.07 |
▼ -1.82% |
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XRO
Xero
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$72.09 |
▼ -1.72% |
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What Moves Markets
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US-Iran peace deal resumes Iranian oil exports — Why it matters: ASX energy sector (Woodside, Origin, Beach Energy, Santos) is directly exposed to the oil price reset; WTI at $75.83 is a multi-month low — What to watch: whether WTI holds above $75 or breaks lower; any OPEC response to Iranian supply resumption
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Nasdaq -1.15% on continued tech rotation and Salesforce's record losing streak — Why it matters: ASX technology names WiseTech, Xero, Technology One, and Xero already sold off Tuesday; US momentum adds to local selling pressure — What to watch: whether Nasdaq stabilises above 26,000 or extends the rotation out of growth
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Iron ore pullback with China demand uncertainty persisting — Why it matters: Fortescue, BHP, Rio Tinto, and South32 remain caught between India growth optimism and weak Chinese steel demand signals — What to watch: any Chinese stimulus announcement or steel output data that shifts the demand narrative
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ASX Focus
Overview
ASX energy stocks Woodside and Origin face the session's sharpest reversal risk after WTI crude collapsed 6.02% to $75.83 on a US-Iran peace deal that resumes Iranian oil exports, directly unwinding Tuesday's sector outperformance.
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Financial Review
ASX to fall; ARN settles with Kyle Sandilands in $12m advertising deal
ARN Media has settled its dispute with Kyle Sandilands, with the arrangement structured as a $12 million advertising deal rather than a cash payment. The settlement removes a key legal overhang for ARN and clarifies the commercial relationship with its highest-profile talent.
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Bez Kabli via Google News
Fortescue edges lower as iron ore pulls back, China weighs on FMG
Fortescue edged lower as iron ore prices pulled back amid ongoing concerns about Chinese steel demand, with China's economic drag continuing to weigh on the stock. The move comes as the broader sector grapples with a split narrative — India growth optimism providing partial offset but insufficient to counter near-term China softness.
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Bez Kabli via Google News
BHP trades close to year high, India steel hopes offset China drag
BHP traded near its year high as emerging optimism around Indian steel demand provided a partial buffer against weaker Chinese sentiment. The divergence between the two largest steel consumers is creating a bifurcated outlook for Australian iron ore majors.
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Macro & Policy
Overview
The RBA held interest rates steady following its June meeting, with the Guardian noting that the Iran ceasefire and its deflationary oil price impact does not change the board's cautious stance on the timing of future cuts.
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The Guardian
European parliament finally approves Trump tariff deal
The European Parliament voted to ratify the US-EU tariff agreement negotiated by the Trump administration, removing a significant trade uncertainty for European exporters. The deal reduces bilateral tariffs and is broadly positive for global trade sentiment, with indirect benefits for Australian export markets exposed to European demand.
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Commodities
Overview
WTI crude oil crashed 6.02% to $75.83 — the most significant commodity move overnight — as the US-Iran peace deal opened the door to resumed Iranian oil exports, with Brent crude also hitting a three-month low below $80.
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Bez Kabli via Google News
Rio Tinto shares slip as focus turns to India growth, less on China
Rio Tinto shares slipped as investor attention shifted toward India's steel growth potential as a demand alternative to China, though near-term iron ore pricing remains anchored to Chinese consumption. The stock's underperformance reflects caution around China's steel outlook, with India demand seen as a medium-term rather than immediate offset for ASX iron ore miners.
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Global Markets
Overview
WTI crude oil's 6.02% single-session plunge to $75.83 — driven by the US-Iran peace deal resuming Iranian oil exports — was the dominant overnight market development, reshaping the energy sector outlook across global equities.
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Financial Review
Peace deal will let Iran begin selling oil, includes $US300 billion fund
The US-Iran peace agreement includes provisions for Iran to resume oil exports and establishes a $300 billion economic fund, materially increasing global oil supply expectations. The deal directly triggered the 6% collapse in WTI crude and is the single most consequential macro development for ASX energy stocks heading into Wednesday's session.
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The Number
WTI -6.02%
WTI crude oil's 6.02% single-session fall to $75.83 — triggered by the US-Iran peace deal resuming Iranian oil exports — is the sharpest energy price shock in months and directly threatens the ASX energy sector, where Woodside and Origin each rallied nearly 2% on Tuesday.
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