Rocket attack in Iraq base hosting US troops

We could be in for a risk-off start today in Asia as the Middle East continues to stir the pot of tensions with the latest news swirling the social media channels reports that four rockets have slammed into an Iraqi airbase north of Baghdad where US troops are based.

Military sources told AFP on Sunday along with security forces saying four Iraqi airmen were wounded. There are no reports of US casualties at this stage nor for where the attacks came from. 

However, the majority of US airmen stationed at the Al-Balad airbase north of Baghdad had already left, military sources say, following tensions between the US and Iran over the last two weeks.

Market implications

The price of oil and such safe-haven asset classes such as precious metals should remain underpinned on such news. However, a full-on conflict between theUS and Iran is unlikely following last week's de-escalation of such rhetoric.