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First time Iran oil facilities were targeted
The Israeli military confirms bombing several Iranian fuel depots in Tehran this evening, saying they served Iran’s military.toM
U.S. and Israeli forces expanded their bombardment of Iran late Saturday, including with strikes on fuel depots near Tehran, as Iran’s de facto leader vowed to continue retaliatory strikes and to make the nation’s enemies “pay the price” for attacking it. NYT
Fog of War
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over a day old “reports” still flying around about 82nd Airborne Division which includes a brigade combat force of up to 5,000 soldiers being readied to rapidly deploy would indicate that the “professionals” in the US military have a different take on how swimmingly bibi and trump’s war in iran is going at present, namely how protecting US assets from iranian drones and missiles, namely not very well.It is highly unlikely, imo, that the 82nd will be doing boots on the ground combat as per
as this headline in WSJ is probably closer to “fog of war”:
Iran Is Hitting the Radars That Underpin U.S. Missile Defenses
Tehran is carrying out many of the strikes with one-way attack drones.USDCHF UPDATE
- CHF regaining its role as a safe haven, shrugging off SNB threats to intervene, which helped drag the USD down at week’s end despite the surge in oil prices (EURUSD followed with a lag as EURCHF fell as well).
- CHf bears watching to see if the market theme has shifted from the USD benefiting as a safe haven and/or an oil play.
- Watch .7775, the move below put bears in control targeting .7666 (.7600-30 below it).
- Back above .7775 would cool the risk
USDCHF 4 HOUR CHART
ETHUSD (4HR)
Ethereum has pulled back from its recent high near $2,170 and is now trading below $2,000. In recent weeks, price has been consolidating within a range between $1,800 and $2,140. A recent attempt to break above $2,140 failed, leading to a quick rejection back into the range. However, higher lows are beginning to form, suggesting early signs of buyer strength.For bullish continuation, Ethereum needs to reclaim the $2,060–$2,140 zone as support. Otherwise, the market will likely continue ranging with a slight bearish bias toward $1,800.
KOSPI (4HR)
South Korea’s Kospi dropped by as much as 12% in Wednesday’s session, its sharpest one-day decline since the global financial crisis. By Friday, however, the benchmark KOSPI finished nearly unchanged at 5,585, as falling oil prices helped steady market sentiment following early losses.
Authorities in South Korea said they would closely monitor financial and energy market volatility and take pre emptive measures if needed, as rising fuel prices risk adding to inflationary pressures.
US EQUITY OPEN: Indices slammed as dismal jobs report adds to geopolitical and private credit concerns
XTIUSD UPDATE
- Slicing through resistance like Swiss cheese as it trades at a near 2-year high before a pause above USD88
- As noted in the XBRUSD update, it is questionable how significant longer-term chart levels are in a war market. In this regard, watch USD88 (briefly broken) and USD90 as pivotal levels on the upside and USD85 pivotal on the downside.
- For a run at USD90 (and potentially above), USD88 needs to become support.
- Next key chart level 95.87
XTIUUSD WEEKLY CHART
March 6 Pre-Market Earnings Release Stocks
(AQN, AQN.TO) Algonquin Power & Utilities reported fourth quarter net earnings of $29.4 million, or $0.04 per common share, compared to a net loss of $110.2 million
(GCO) Genesco Inc. reported net sales of $800 million, a 7% increase compared to the same period last year. Comparable sales rose by 9%, with store sales up 9% and e-commerce sales up 8%. The company’s GAAP earnings per share (EPS) for the quarter were $4.43, up from $3.06 in the previous year, while non-GAAP EPS was $3.74, compared to $3.26 last year.
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