USD/JPY trades near 158.00 as risk-off sentiment counters hints of geopolitical de-escalation. While technicals show potential for a pullback toward 157.27, a push above 158.90 risks triggering Japanese intervention between 159.00 and 160.00.

Gold and silver prices defy conventional wisdom, failing to sustain rallies despite the Iran conflict. While futures remain below recent peaks, historical volatility suggests a non-linear relationship between war and precious metals.

Recent oil price pullbacks ignore structural risks in the Strait of Hormuz and surging insurance premiums. Investors should target the midstream sector to capture consistent tolls as global energy supply chains face permanent disruption.

Surging oil prices act as a universal tax, draining household buying power and threatening global demand.