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.

Stocks are set to climb on the prospect of a peace deal and a weaker oil price, but futures suggest a degree of scepticism around the US president’s claims.

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.