Mumbai, June 19 -- The dominant macro development of the week gone by was the signing of the US-Iran MOU on 18 June, with an agreement to end the war and open the Strait of Hormuz.

Markets reacted sharply with the brent setlling at $79.95 per barrel on 19 June, down nearly 24% over the past month, while the rupee rose to a six-week high on easing import-bill pressures.

On the domestic inflation front, CPI for May 2026 printed at 3.93%, a fifth consecutive monthly rise, with food inflation at 4.78%.

Meanwhile, WPI surged to 9.68%, with fuel and power inflation at 30.33%. With crude retreating, these prints could now moderate materially going forward.

Globally, the Fed held rates at 3.50-3.75% on 17 June but turned decisively hawkish, r...