Iran's Wave of Attacks Spreads to UAE: Bases in Kuwait and UAE Struck
As part of the 31st phase of "Operation Saeqeh (Lightning)", the Iranian Army announced that early Thursday morning it targeted satellite communication facilities, warehouses, and fighter jet hangars at Ahmed Al-Jaber Air Base in Kuwait, and radar systems and locations used by US forces at Al Minhad Air Base in the United Arab Emirates with missiles and UAVs. Kuwait confirmed it was attacked, stating that its air defense systems responded to incoming threats, and condemned the attack in the strongest terms as a violation of its sovereignty; no official statement has yet been made regarding casualties or damage.
Israeli Defense Minister Katz to Iran: 'We Will Send You to the Stone Age'
Israeli Defense Minister Israel Katz, in his speech at the Rosh Hashanah celebration at the Ministry of Defense on September 3, stated, "An attack by Iran against Israel will free Israel from all constraints regarding strikes against Iran." Katz used the expressions, "We will strike all of Iran's national, military, and civilian infrastructure, including energy infrastructure, and send Iran back to the darkness of the Stone Age," noting that they see signs that the Iranian regime may resort to "desperate steps" out of heavy economic pressure and fear of a potential internal uprising.
Trump: Oil Flow From Hormuz 'Has Returned', JPMorgan Disputes
US President Donald Trump announced via a chart shared on his Truth Social account that the volume of oil passing through the Strait of Hormuz "returned" to 18 million barrels daily compared to the pre-war level of 20 million barrels. However, JPMorgan analysts argue that the amount of oil actually exiting the strait is around 4 million barrels per day; vessel tracking data also indicates that transits remain significantly below pre-war levels and have further declined with new strikes in recent days.
Gold and USD/TRY Maintain Midday Levels
XAU/USD is trading around 4.430 dollars in the afternoon session, displaying a limited movement close to the 4.424-4.427 dollars range in the midday report. USD/TRY continues its flat course at the 48,32 TL level. While pricing in the geographical expansion of tensions along the Iran-US/Israel line, markets have not set a clear direction ahead of the US weekly jobless claims and ISM Services PMI data to be announced in the evening hours.
Ekonomik Takvim | 31 August - 5 September 2026
🇺🇸 Today 15:30 (TSI)
US Weekly Jobless Claims
Market expectation is around 205 thousand; data has not been announced yet.
🇺🇸 Today 17:00 (TSI)
US ISM Services PMI (August)
Market expectation is 54,3 (July: 54,1); an important signal regarding service sector activity ahead of Friday's NFP, data has not been announced yet.
🇺🇸 Friday, September 4
US Non-Farm Payrolls (NFP)
The last major data on the labor market before the Fed's September rate decision; in an environment of ongoing geopolitical tensions, a surprise result could re-price rate hike expectations.
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