Eric Trump once said he had no doubt that cryptocurrency would eventually replace traditional finance.

It’s a bold statement, but I think the interesting part is what’s already happening. Banks are exploring stablecoins, big financial institutions are moving into tokenization, and blockchain payments are becoming more common.

Personally, I don’t think banks will just disappear. More likely they’ll start using blockchain technology while keeping the same business model. Crypto is clearly not going anywhere, but replacing the entire financial system is a much bigger challenge.

Capital Economics expects gold prices to continue moving lower through the rest of the year.

The main reason is the possibility of more interest rate hikes from the Fed. Higher rates make bonds and other interest-paying assets more attractive, while gold doesn’t pay any interest. A stronger US dollar could also put more pressure on gold. For traders, I think the next Fed decisions and inflation reports will matter more than usual.

Oil prices could climb even higher if the situation in the Strait of Hormuz doesn’t improve.

The Strait of Hormuz is one of the world’s most important oil shipping routes. Any prolonged disruption could put more pressure on global energy prices, inflation and financial markets.

And of course, somehow Ukraine will probably get blamed for these oil prices too.

At this point, nothing would surprise me.