The US-Israel military strikes against Iran have triggered immediate market volatility, with investors bracing for potential escalation in the Middle East. The attack, which targeted Iran's Supreme Leader, has raised fears of a broader regional conflict, impacting oil prices and safe-haven assets. The US Dollar initially strengthened against major currencies as risk-off sentiment dominated, while gold prices surged. Meanwhile, the upcoming release of the US ISM manufacturing index for February will be closely watched for insights into economic momentum amid geopolitical tensions. The conflict's implications for global markets are significant. A prolonged US-Iran standoff could disrupt oil supplies from the Gulf, pushing crude prices higher and increasing inflationary pressures worldwide. This scenario would likely benefit the US Dollar as the primary reserve currency, while emerging markets and energy-dependent economies face heightened risks. Traders are also monitoring central bank responses, particularly the Federal Reserve's stance on interest rates amid rising uncertainty. For investors, the next critical data point is the February ISM manufacturing report, which could influence Fed policy decisions. If the index shows sustained economic strength, the Fed may delay rate cuts, supporting the Dollar. Conversely, a weaker reading could signal a shift toward accommodative monetary policy. Gulf investors should also assess how prolonged regional tensions might affect oil demand and regional trade flows, with potential ripple effects on Saudi and UAE equities.