Australia Shares Rise as US Puts Iran Strikes on Hold

The Australian share market is expected to open higher on Monday after the US paused its campaign of strikes against Iran, and Tehran signaled it would refrain from retaliatory attacks.

ASX futures are pointing to a gain of 48 points, or 0.6%, at the open as investors assess signs of de-escalation in the Middle East conflict.

The final major economic release before the Reserve Bank of Australia's August 11 policy meeting is Australia's June inflation figures on Wednesday, which will likely be closely watched by investors.