Monday 20th July 2026

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Oil prices were pushed higher as tensions in the Gulf escalate, and with more happening over the weekend there’s every chance oil prices will push higher still. Tech stocks took a hit on Friday with news of the imminent release of Kimi K3, China’s latest agentic open-source AI offering that challenges the supposed superiority of US solutions. NAB’s Ray Attrill joins Phil to discuss both developments, and to look ahead to a week dominated by CPI numbers (NZ, UK, Japan, and Canada) and Australian labour market data.

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