The Australian share market is poised to open about 0.5% higher, tracking gains on Wall Street after weaker-than-expected US inflation figures reduced the likelihood of Federal Reserve interest rate hikes. On Wall Street, the Dow Jones remained flat, while the S&P 500 rose 0.4% and the Nasdaq Composite gained 0.9%.

American investor Warren Buffett announced he will cease donations to the Gates Foundation following revelations about interactions between Bill Gates and convicted sex offender Jeffrey Epstein. Instead, Buffett plans to donate approximately $US6 billion ($8.6 billion) of Berkshire Hathaway stock in his annual mid-year donation to four family foundations overseen by his daughter Susie and sons Howard and Peter. This follows a $US4.5 billion donation last year. Buffett did not mention the Gates Foundation, which has received over $US47 billion in stock since 2006.

The Australian dollar strengthened by 0.8% overnight to 69.7 US cents, though the recent military tensions between the US and Iran risk putting downward pressure on the AUD/USD exchange rate. The US military has reimposed its naval blockade of Iranian ports, but President Trump abandoned plans to collect 20% fees on ships passing through the Strait of Hormuz after requests from Gulf allies.

Meanwhile, concerns grow over investment losses through First Guardian and Shield funds, with the CSLR facing "huge pressure," according to Mr Mulino. Additionally, the One Nation party advocates for building new coal-fired power plants, embracing nuclear power, banning offshore wind farms, withdrawing from the Paris Agreement, and abolishing the Department of Climate Change.

Oil prices are expected to rise as prospects for resolving the conflict diminish, according to former diplomat and strategist Michael Feller. New Federal Reserve chair Kevin Warsh recently testified before the US House Financial Services Committee, signaling ongoing scrutiny of monetary policy.

Sources note that despite one month of softer CPI data, the door remains open for interest rate hikes, and market movements are likely to continue reflecting broader US dollar trends.

Sources