RBA's Hauser Speech Eyed for Hawkish Signals After Bullock Warning

Markets now focus on RBA Deputy Governor Andrew Hauser's June 5 Sydney speech after Governor Michele Bullock's Senate testimony highlighted emerging second-round inflation risks from Middle East energy shocks. Hawkish June 2 remarks from board members Harper and Ellis lifted August hike odds, while UOB and CBA countered with growth slowdown warnings and a 5% house-price drop forecast. The RBA has paused after three 2026 rate hikes at the 4.35% cash rate, with markets pricing zero chance of a June move and roughly 50% odds for a 25bp August increase, leaving AUDUSD sensitive to incoming data.