USD -
US activity in the war does seem to coincide with weekends and after the Hollywood rescue of a downed US F-15 pilot in Iran on Sunday the weekend rule seems to hold firm.
Buried underneath all of this war talk the overall US jobs market proved more resilient than expected in February, with Non-Farm Payrolls figures released Friday showing a strong 178,000 jobs added figure and a declining rate of unemployment.
Still, the real impacts of near $5 a Gallon Gas is yet to be borne out and the President's threats against key Iranian infrastructure is, if enacted, does represent a very serious escalation. However, having experience of the President's shock and awe style of negotiation before, I would suspect that the attack will be called off at the last second.
If it isn't, we could expect to see much higher USD and Oil tomorrow, with a significant retaliation from Iran seeming certain. It would also very likely delay any talks on opening the Strait of Hormuz and allowing a resumption in Global energy traffic, something more desperately needed than almost anything besides and end to the fighting.
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