Company Interview / the open: ASX to recover 📈 ahead this afternoon’s RBA decision

It was a positive session to begin the week on global equity markets as oil prices receded, while Israel said it has detailed plans for at least three more weeks of war. The local market is set to recover some of its recent losses with ASX futures up 0.77% with the focus today on the Reserve Bank's interest rates decision.  Stocks on Wall Street rallied, fueled by gains in AI-related companies, while news that some ships have passed through the Strait of Hormuz without incident buoyed market sentiment.  US allies have rejected President Trump's call to send warships to escort shipping through the Strait of Hormuz, prompting criticism from the US president, who accused Western partners of ingratitude. Germany, Spain, Italy and the UK said they had no immediate plans to send warships to help reopen the strategic waterway with Australia and Japan also ruling out sending ships. Oil prices have fallen as President Trump calls for global efforts to secure the Strait of Hormuz, although the war in the Middle East has created the biggest oil supply disruption in history. The US dollar index is down 0.5%, meanwhile the Australian dollar has surged 1.3% ahead of the RBA decision to US70.7 cents.