Strong US payrolls reinforced confidence in the broader economy, yet tensions around the Strait of Hormuz continued to shape sentiment across currencies, commodities, and bond markets.

A volatile start to the week, where currencies, energy, and policy signals are pulling markets in different directions.

Continued tension in the Strait of Hormuz kept energy prices high and inflation risks in focus.

Commodity markets continued to swing between relief and renewed uncertainty, with each shift in the United States–Iran narrative quickly feeding into pricing.

Economic markets are moving in a tighter loop where energy supply, inflation pressure, and policy expectations feed directly into one another.

Energy tension continues to influence price behavior across currencies, commodities, and bond markets.

Financial markets closed the week under pressure as rising energy costs, firm interest rate expectations, and ongoing developments in the Middle East reshaped the outlook for inflation and growth.

Financial markets began the week under the influence of escalating tensions in the Middle East and persistently high energy prices, factors that have strengthened the US dollar and pushed global bond yields higher.