ASX drops before RBA decision; Wall Street surges on Iran deal

The Australian stock market declined as investors awaited the Reserve Bank of Australia's interest rate decision. Wall Street saw a strong rebound in its first trading session following Donald Trump's announcement of a peace agreement with Iran. Market participants were closely monitoring the potential impact of the RBA's policy move. The peace deal with Iran was seen as a positive development for global markets. Investors are assessing the implications of the deal on geopolitical tensions. The Australian market showed signs of caution ahead of the central bank's statement. Wall Street's gains reflected optimism about the deal's potential to stabilize regional conflicts. Overall, the day's movements highlighted the influence of both domestic and international events on financial markets.

The outcome of the RBA's rate decision and the Iran peace deal could significantly impact investor sentiment and market stability.