The fog of war
• Middle East conflict. Developments dampened sentiment. Oil prices spiked & equities slipped back. USD firmer. AUD & NZD lost some ground.• Volatility. Geopolitical tensions can generate more bursts of volatility. This adds to the economic uncertainty stemming from various US policies.• Event Radar. AU jobs report (Thurs) is due. China data out today. In the US retail sales & Fed meeting in focus. BoJ & BoE also on the schedule. Global Trends Developments in the Middle East rattled markets on Friday, and with Israel and Iran continuing to trade blows over the weekend investor nervousness is likely to continue...