Morning 1-8

Trump will address the nation later this morning no time given  as of yet ,will he be hawkish or Dovish in regards to another strike? Markets leaning Dovish but we all know Trump could come out and beat the war drum again.

Therefore, that is it. Retaliation complete? Up to the U.S. now to decide if countries are even Steven. No U.S. casualties reported, Supposedly Iraq got a heads up from Iran that strike was imminent and Iranian foreign minister said we do not war. It appears Iran wanted to save face, which they did by striking at U.S. base but showed restrain but not killing any Soldiers. Markets believe  the Skirmish is over and that tempers will cool as Spoos are 60 handles off lows, Cl  and Brent 400 ticks off highs ,Bunds 140 ticks off highs  10s a handle off highs and 30 a bit more than 2 handles off highs Gold  $40 off highs trading near lows.  World War III averted for now.

Some Articles regarding Iran:

Iran say they’ll stop attacking if there is no response from the US– Via US media in Tehran *if there is no retaliation from America for these latest attacks then Iran will stop attacking *But if America attacks then their response will be crushing and wide spreadhttps://www.forexlive.com/news/!/iran-say-theyll-stop-attacking-if-there-is-no-response-from-the-us-20200108

Iran threatens to attack Dubai and Haifa if country is bombed– The Islamic Revolutionary Guard Corps said in its Telegram channel that, in the event Iranian soil is bombed, it will target the cities of Dubai, United Arab Emirates, and Haifa, Israel, in the third wave of operations.https://www.cnn.com/middleeast/live-news/us-iran-soleimani-tensions-intl-01-07-20

Iran threatens to attack inside America if US responds to missile attacks– In its Telegram channel, Iranian Revolutionary Guard says the “Pentagon reports that the US will respond to Iran’s attacks.” IRGC then says in a footnote, “This time we will respond to you in America”https://www.cnn.com/middleeast/live-news/us-iran-soleimani-tensions-intl-01-07-20

UAE Energy Min: No OPEC+ emergency meeting is called for due to crisis; will respond if needed to US/Iran tensions ;Oil mkt is well supplied now; if there’s a shortage in oil supply OPEC will call for it; let’s not exaggerate what’s happening, there’s no risk to Hormouz or oil flow; we aren’t concerned as UAE about our oil supply & demand; global oil inventories are hovering around 5y average; sees no situation where there’ll be a fear of shortage of oil supply

Economy:

 ADP just released and showed 202 jobs created ADP track reported not good in predicting what Friday’s payroll number will be as Last  Month ADP report 67k jobs created and the national number Came out at 266k. Yesterday saw a term repo over subscribed for first time since mid-December  this may have caused a touch of weakness in Spoos,I will be on look out to see if this sis one off event.

Main Focus today is on president trump’s Comment to the nation.

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