US-Iran Tensions Ease as Markets Weigh Mixed US Inflation Data

In a move that significantly eased Middle Eastern geopolitical concerns, President Trump announced the cancellation of scheduled military strikes against Iran, citing progress toward a potential deal. On the economic front, the US annual Producer Price Index (PPI) for May rose to 6.5%, slightly exceeding the 6.4% consensus forecast. Meanwhile, the European Central Bank (ECB) delivered a widely expected interest rate hike, though sources indicated a potential pause in the tightening cycle could occur as early as July.

These developments come as markets display mixed reactions, with the de-escalation boosting risk appetite for commodity-linked currencies such as AUD and NZD. Per market data, global inflationary pressures remain persistent; for instance, Turkey's annual inflation rate reached 32.61% in June according to the economic calendar, while India reported robust GDP growth of 7.8%. Investors are also monitoring the performance of major tech players like ORCL amidst these shifting macroeconomic dynamics.

Regarding current price levels, ORCL closed at $182.24 (close June 11, 2026) after hitting a session high of $183.13. Looking ahead, market participants are focused on upcoming catalysts including the BRC Retail Sales monitor from the UK and the OPEC meeting scheduled for June 7, which may redefine energy price trends following the recent cooling of military tensions.