Market Recap – Iranian response

Iran responded to the killing of Qasem Soleimani, by launching missiles attacks at two military bases in Iraq which houses US troops. No casualties have been confirmed

Iran’s Foreign Minister, a few hours after the attack tweeted:

“Iran took & concluded proportionate measures in self-defense under Article 51 of UN Charter targeting base from which cowardly armed attack against our citizens & senior officials were launched. We do not seek escalation or war, but will defend ourselves against any aggression.”

Market Participants‘ initial reaction was a fly to safe haven assets like JPY, CHF and gold, which has been followed by a risk-on mode. It remains to be seen if the current optimistic interpretation is correct and the bellow front page says it all.

clinton newspaper clipping 

Today it is worth listening  President Trump addressing the American people

Macro releases: Yesterday’s European inflation, European retail sales and Australian construction activity were positive. Today’s economic calendar includes the US crude oil inventories.


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