April 2026

It’s April already and Easter will soon be upon us. We hope you have a peaceful and relaxing holiday weekend.

The big economic story in March didn’t need a share market ticker to announce itself, it was visible on every petrol station price board across the country.

The escalating war in the Middle East has seen extreme volatility in global markets. The closure of key shipping routes disrupted millions of barrels of oil, sending shockwaves through energy markets worldwide. Brent crude surged by almost 70% in March to trade at around $115 per barrel by month’s end, its highest level in years.

US share markets bore the brunt, with the S&P 500 down roughly about 8% for the period, while the tech-heavy Nasdaq fell more than 10%.

Closer to home, the ASX 200 fell around 8% because of energy price fears and inflation concerns. The Australian dollar weakened by almost 3% over the month, falling to approximately USD 0.686.

Inflation figures were steadying before the outbreak of war, with annual inflation slowing to 3.7% in February.

The RBA increased the cash rate target by 25 basis points to 4.10% in March based on concerns about inflationary pressure due to the Middle East conflict’s impact on energy prices. Further pressure on household budgets and interest rates looks likely in the months ahead.