Collinson FX: June 17: Oil Prices Slip to $75 a Barrel as Market Confidence Rises
by Collinson FX 16 Jun 22:22 UTC
17 June 2026
Carona – Auckland Wooden Boat Festival – March 2026 © Richard Gladwell – Sail-World.com/nz
Oil prices have fallen to around US$75 per barrel, boosting market confidence and easing inflation concerns.
The Reserve Bank of Australia kept interest rates unchanged, citing reduced inflationary pressure after tensions in the Middle East eased. Earlier this year the RBA had raised rates in three consecutive meetings, putting pressure on borrowers and raising recession fears. Meanwhile, the Bank of Japan lifted its policy rate to 1%, the highest level in over three decades, aiming to curb inflation driven by higher energy costs.
In currency markets, the euro remains firm above 1.1600, and the pound steadies above 1.3400. Commodity‑linked currencies have also rallied, with the New Zealand dollar near 0.5840 and the Australian dollar around 0.7075. All eyes now turn to the Federal Reserve’s rate decision due tomorrow.