Company Interview / the open: ASX set for flat start as oil tumbles

The local market is set to open slightly higher with ASX futures up around 5 points as markets unwind the Middle East trade. 

Wall Street's main indices rose more than 1%, with the S&P 500 finishing near its record high reached in mid February while the Nasdaq closed at a record high. 

As a ceasefire holds between Israel and Iran, an assessment prepared by the US Defense Intelligence Agency indicates that US airstrikes did not destroy Iran's nuclear capability, but set it back by a few months. The US dollar has fallen further and the euro has risen to its highest level in almost 4 years. Meanwhile, the Australian dollar is up slightly, trading at US64.9c. 

Oil prices have tumbled further, below the level they were at before the Israel Iran conflict began. Brent crude futures fell 6%, to $67 a barrel, whilst copper is up 1.0. Iron ore has fallen 1.1% to $92 a tonne.  

Locally today the monthly reading on inflation will be released along with infrastructure construction activity.