Tuesday 21st July 2026

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Oil prices were on the rise but have eased a little on the hope that maybe a 10-day ceasefire could quell the escalating tensions in the Gulf, after nine nights of open hostilities. NAB’s Rodrigo Catril joins Phil to talk through how markets continue to manage their way through the uncertainty. Higher oil prices have had limited impact on the underlying inflation in Canada, with the softer than expected CPI print giving no reason fro the bank of Canada to do anything except watch and wait. Words from Andy Burnham on his first day as UK PM have pushed bond yields higher, but they retraced a little as he gave the Chancellor role to what many consider a safer pair of hands. New Zealand’s CPI is the main focus in the region today.

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