Markets saw intense swings in sentiment and price action during yesterday’s session. The Sunday evening open brought sharp gaps across multiple asset classes, including oil, equity indices, and major forex pairs.
The most significant development came again from the Middle East, as Iran launched a ballistic missile strike targeting the Al-Udeid US military base in Qatar—the largest American base in the region. All missiles were reportedly intercepted by Qatari air defenses. Markets interpreted the move as a largely symbolic gesture rather than a serious escalation.
Initially, the attack triggered classic risk-off positioning, but sentiment quickly reversed as investors reassessed the limited impact. By the afternoon session, much of the early war-driven market reaction had been unwound.
The played a central role in the day’s volatility, gapping higher at the open. The (DXY) surged to 99.40 during the Asian session—levels not seen since the end of May—before retracing sharply to close near 98.40.
Equity and Cryptocurrency markets were the biggest losers of the session until 12:00 P.M., with notably the (CFD) seeing more than 100 points of movements attaining a low of 5,929 in the overnight session and currently heading to a close around 6,030.
had also gapped lower to $99,000, levels last seen in the beginning of May before reversing sharply to the current levels at $104,000 – also lost 10% in overnight before recovering to down 4%, closing just above $2,300.
is certainly the biggest loser of the day, down close to 9% on the session and still counting – The fall is quite large, retesting levels seen right before the initial Israel attacks on Iran around $68.80.
Some Charts to See the Extent of Yesterday’s Volatility
US Oil Intra-Day
Source: TradingView
S&P Intra-Day
Source: TradingView
Bitcoin Intra-Day
Source: TradingView
Dollar Index Intra-Day
Source: TradingView
All types of support and resistance levels will have to be redrawn after yesterday’s session, particularly in Oil.
Daily Cross-Asset Performance
Source: TradingView
A Picture of Yesterday’s Performance for Major Currencies
Source: OANDA Labs
You may observe the major swings happening around 13:00 as Iran’s attack failed to scare markets.
The USD was the biggest winner of the day and finished down the most, close to tied with the – The is still finishing the highest on the NA Session, as not all Safe-Haven assets were subject to such reversals
A Look at the Economic Data Release 
Except for any new development in the Middle East, markets should be back to focusing on Economic Data and Central Bank Speakers.
The overnight session will see the release of a few Sentiment surveys from Germany (mid-tier data).
However, most of the action will be for North American traders, with the Canadian releasing at 8:30 A.M. (expected at +0.5% m/m), followed by the first part of Jerome Powell’s Semi-Annual Testimony at 10:00 A.M. which may move markets, particularly with Trump’s recent comments on the FED Chair (the US President is not happy with the FED respecting their dual-mandate, he’s lobbying to see )
Safe Trades and keep watching for any unexpected developments in the Middle East!