AGP Executive Report
Last update: 10 hours agoMiddle East Risk-On, Then Risk-Off: Markets jumped on fresh US-Iran “deal” chatter and hopes for Strait of Hormuz reopening, but the optimism got hit fast as the US carried out “self-defence” strikes and Iran signaled the talks are still far from settled—oil slid, then steadied around the mid-$90s, while FX and equities stayed jumpy. Rates & FX Watch: Traders are now focused on how the conflict tone feeds into inflation and the next rate path, with the Indian rupee’s rally likely to face month-end dollar demand. Earnings Spotlight: In New Zealand, Fisher & Paykel’s strong result brought relief and lifted sentiment, while Infratil’s guidance softness weighed on the stock. AI Meets Reality: Indian IT shares are down sharply YTD as AI shifts budgets from traditional outsourcing toward infrastructure and software, leaving revenue conversion lagging. Energy/Materials Themes: Freeport-McMoRan pushed copper output targets via leaching tech, while mining M&A momentum continues as majors chase scale and permitted assets.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result.
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