ASX Set for Cautious Opening Amid Global Market Volatility

The Australian Securities Exchange (ASX) is set to open with a cautiously optimistic tone as global equities retreat and energy markets remain elevated.

Oil prices are closely watched amid continued uncertainty around the Strait of Hormuz and supply routes, which could impact Australia's energy producers and businesses exposed to higher transport costs.

The Reserve Bank of Australia (RBA) is also due to announce its latest monetary policy decision, which will influence domestic borrowing conditions for households and businesses.