The US-Iran peace deal brought relief to global stocks overnight but the Australian sharemarket has fallen at the open. The RBA announces its interest rates decision this afternoon.

The Australian sharemarket is set for a cautious open amid a fresh escalation in tensions in the Middle East while SpaceX soared in its highly anticipated debut on Wall Street.

The Australian sharemarket rallied after Donald Trump announced a peace deal that includes an immediate ceasefire “on all fronts” of the war in the Middle East.