Christmas and New Year Holiday Notice

Global markets are navigating a renewed wave of geopolitical risk as tensions in the Strait of Hormuz intensify. 

Global markets moved through a volatile and uneven week as currency intervention, shifting energy dynamics, and cautious central bank signals reshaped sentiment. The US dollar came under sustained pressure, briefly falling below 98 to its lowest level since late February, largely driven by a sharp rally in the Japanese yen following suspected intervention. At the same time, geopolitical developments around the Strait of Hormuz and renewed US–Iran diplomatic efforts continued to influence energy markets, keeping inflation expectations in focus.

Global financial markets opened May with currently being driven by a complex interplay of geopolitical tensions, monetary policy expectations, and evolving investor sentiment.