The risk-off mode has been given extra momentum

Gold Jumped easily above 1600 per ounce and also WTI soared above $65 per barrel, as Dozens of ballistic missiles have been fired against United States military and coalition forces in Asad and Erbil bases by Iran for the killing of the top Revolutionary Guards commander in Baghdad Qassem Soleimani who has been just buried, following several funerals of him in Iraq and Iran looked ritual, huge and meaningful showing that a retaliation is coming no way.

Now, We are waiting for Trump's night address, after his current meeting with his appointed security team and advisors.

I should remind you that Iran’s Ayatollah Khamenei said severe retaliation awaits Soleimani’s killers.

Trump said the U.S. had identified 52 Iranian sites for  hitting, if Tehran retaliates over its slain general Qassem Soleimani.

Trump vowed to slap sanctions on Iraq, if U.S. troops were expelled from the country, after Iraqi lawmakers voted to expel US forces from the country which is not in need to be a battlefield of new confrontations.

The European leaders are all working for calming down and restore back the limits on Iran enrichment of uranium on 2015 agreement which allowed to Iran to export its oil production freely , before the US withdrawal from it.

Trump can make his threat tangible and can also swallow his words, if there are no enormous numbers of causalities and deaths.

But the unity of NATO is threatened as some countries are less willing to be involved in a war there.

NATO fought against ISIS with Iraqi troops and Kurds in Iraq and Syria and also it is existing helping to maintain security in this very rich oil area of the world against many threats such as Iran which threat clearly from time to time of blocking the oil supplies from this hot area.

So, the NATO troops are forming also support to Arabian countries such as Kuwait, Saudi Arabia and Emirate. They are the main blockage of war there, After the removal of Saddam who was forming a limit against Iran and had to be replaced by who can play his role, after the falling of his regime.

So, the withdrawing of NATO is not an easy decision to be taken as it can have severe consequences and threat the global economic recovery the world lives in currently.

USDJPY is now struggling to hold above 108 because the demand for the Japanese yen increases amid the risk aversion sentiment as it has the lowest financing cost.

The demand for Bitcoin as a safe haven crypto currency away from the geopolitical concerns rose significantly during the Asian session reaching $8437.5, while UST 10yr yield is diving now below 1.75% ahead of Trump's address.