Markets Eye Key Aussie Confidence Prints

• Bond yields reversed lower after an early rise, as markets leaned toward a more constructive view on US–Iran negotiations. While weekend talks failed and the Strait of Hormuz remains under pressure, Trump’s comments suggesting talks are ongoing helped steady sentiment.

• In Japan, the tone from the central bank has turned more cautious. Expectations for a near-term rate hike have been pared back, with markets less convinced the BoJ will move at its late-April meeting following Governor Ueda’s remarks.

• Locally, focus turns to NAB business confidence and Westpac consumer sentiment, providing an updated read on domestic conditions.

• From a policy perspective, RBA Deputy Governor Hauser speaks offshore, while in the US attention shifts to March producer price data, adding to the inflation outlook.