Investors fret oil price surge on Iran attack will upend long bull run
The price of oil will spike as markets open and could even soar beyond $US100 a barrel after the Trump administration's intervention into a weeks-long war between Israel and Iran unsettles financial markets.
While the price of Brent crude had drifted more than 10 per cent higher since Israel first launched an attack on Iranian nuclear assets two weeks ago, traders fear US President Donald Trump's authorisation of bombing at the weekend will lead to a rapid escalation in the conflict.
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Sydney Morning Herald
29 minutes ago
- Sydney Morning Herald
‘It's un-Australian': Rabbi says the hate must stop after graffiti attack on heritage-listed synagogue
Rabbi Shlomo Nathanson has described a graffiti attack on the historic synagogue in South Yarra on Sunday as 'un-Australian'. Vandals used red paint to scrawl 'Free Palestine' and 'Iran is Da Bomb', set inside the outline of a nuclear mushroom cloud, on the heritage-listed synagogue in the early afternoon. There were no religious services or activities at the synagogue at the time. The attacks were reported to police, and cleaners using special chemicals were able to remove most of the graffiti from the building near the corner of Toorak and St Kilda roads just south of the inner city. The attack came only hours after news broke that the US had dropped bombs on three Iranian nuclear facilities, but Nathanson urged those people angry about the current situation in the Middle East to not take it out on fellow Australians like those of his Melbourne Hebrew Congregation. 'Tensions are understandably very high today, but an act like this on the Melbourne Hebrew Congregation is just unacceptable,' Nathanson told this masthead on Sunday evening. 'It's the place of worship and it has been since 1841. It's one of the oldest congregations in mainland Australia. Over which time, it has welcomed people from all faiths.' Nathanson said police were called and security footage was passed on to them. He stressed that the synagogue would continue to serve its broad community of worshippers. 'There's going to be a wide variety of opinions as to the politics in the Middle East and where things stand from one extreme to the other, but to translate that into violent acts and antisemitism and criminal activity here in Australia is un-Australian,' Nathanson said.
The Age
30 minutes ago
- The Age
‘It's un-Australian': Rabbi says the hate must stop after graffiti attack on heritage-listed synagogue
Rabbi Shlomo Nathanson has described a graffiti attack on the historic Melbourne Synagogue on Sunday as 'un-Australian'. Vandals used red paint to scrawl 'Free Palestine' and 'Iran is Da Bomb', set inside the outline of a nuclear mushroom cloud, on the heritage-listed synagogue in the early afternoon. There were no religious services or activities at the synagogue at the time. The attacks were reported to police, and cleaners using special chemicals were able to remove most of the graffiti from the building near the corner of Toorak and St Kilda roads just south of the inner city. The attack came only hours after news broke that the US had dropped bombs on three Iranian nuclear facilities, but Nathanson urged those people angry about the current situation in the Middle East to not take it out on fellow Australians like those of his Melbourne Hebrew Congregation. 'Tensions are understandably very high today, but an act like this on the Melbourne Hebrew Congregation is just unacceptable,' Nathanson told this masthead on Sunday evening. 'It's the place of worship and it has been since 1841. It's one of the oldest congregations in mainland Australia. Over which time, it has welcomed people from all faiths.' Nathanson said police were called and security footage was passed on to them. He stressed that the synagogue would continue to serve its broad community of worshippers. 'There's going to be a wide variety of opinions as to the politics in the Middle East and where things stand from one extreme to the other, but to translate that into violent acts and antisemitism and criminal activity here in Australia is un-Australian,' Nathanson said.
Perth Now
30 minutes ago
- Perth Now
‘Liberation Day' drives Aussie investor exodus
Australian retail investors are ditching the United States and moving their money to 'stable' economies on the back of US President Donald Trump's 'Liberation Day.' New retail data from investing platform eToro, who asked 10,000 retail investors across 14 countries, including 1,000 from Australia showed a sharp trend away from America. According to eToro's data the downturn in enthusiasm for US markets reflects broader economic uncertainty, with 37 per cent of Aussie investors citing the global economy as the biggest threat to their investments – the highest figure recorded since Q2 2022. Inflation follows as the second biggest concern at 17 per cent. Instead of investing abroad, local investors are increasing their exposure to Australian markets. eToro managing director Robert Francis says investors are moving away from the US. Supplied Credit: Supplied eToro managing director Robert Francis told NewsWire a combination of US policies and high valuations have retail investors sceptical of investing in the world's largest market going forward. 'People are beginning to realise the US exceptionalism isn't what it was a year or two ago with the inauguration of Trump has meant a lot of uncertainty,' he said. Rayeiris Maduro Rondon, an investor based in Sydney after relocating from Venezuela told NewsWire it is her opinion that the days of the US exceptionalism has 'paused' as she shifts to Europe and China. 'I view this more as a period of recalibration rather than decline,' she said. 'Historically, when markets trade at elevated valuations for extended periods, investors begin to see high multiples as 'the normality' and price in unrealistic growth expectations. 'That's where the U.S. stands today.' While she still holds some US investments on a 'reasonable valuation,' she said there are better opportunities abroad. 'In Europe and Asia, I'm finding businesses with higher returns on capital and strong cash flows trading at deeply discounted valuations, making them far more attractive from a risk-adjusted perspective,' she said. Rayeiris told NewsWire US exceptionalism has been paused Credit: Supplied Alert not alarmed Australian investors are split on what the current market volatility means for them. eToro's survey data showed 35 per cent of Aussies are more vigilant about their portfolio while a further 28 per cent are feeling anxious. On the flipside, 24 per cent are actually hopeful or excited about the large market swings. This optimism extends to investing strategies, with over a quarter of Aussie retail investors seeing a decline of 10 per cent or less as an opportunity to buy the dip. eToro's market analyst Josh Gilbert said investors are alert but not all of them are alarmed. 'Many see recent market dips as buying opportunities, which signals a level of confidence in long-term market resilience, he said. 'The risk of being out of the market altogether is something savvy investors are acutely aware of. 'The recent rebound in global equities since April has reinforced that view, even in uncertain times.' The ASX slipped after Liberation Day. Photo: Gaye Gerard / NewsWire Credit: News Corp Australia It has been a volatile ride for investors since Mr Trump took office for global markets initially rallying before hitting a bear market on April 2, with the announcement of Liberation Day. The wide-ranging tariffs were touted as Liberation Day for the US, with Mr Trump arguing it would level out the playing field. In a list of countries, Australia was 21st with a 10 per cent tariff on all goods imported into the US. The ASX slumped 11.4 per cent in the five days following 'Liberation Day', while the US S & P 500 fell around 12 per cent while the Dow Jones dropped 11 per cent. In both the Australia and the US shares quickly recovered after Mr Trump announced a temporary pause on his tariff policies. Mr Francis said this was a dramatic turnaround in investor confidence with the market initially rallying when Mr Trump returned to office. 'The whole market was buoyant with Trump's inauguration,' he said. 'I mean, we all thought investors, market commentators, all thought that we were going to see a continued bullish trend in the market. 'But given what we're seeing now around trade conflicts, tariffs that are being implemented, this is kind of, where is this going to go? 'All of this means that there's a level of uncertainty right now that doesn't bring confidence in investing in the US'. Some still move to safe assets Commodities have also been a favourite of Australian investors as they look to protect their positions. According to eToro's results, fears mount over a weaker US dollar and persistent inflation, Aussie retail investors are repositioning their portfolios, with nearly half of respondents having adjusted allocations or planning to. Mr Gilbert said 60 per cent of respondents said they expect gold prices to increase in the next 6–12 months, which reinforces its traditional role as an inflation hedge. 'Interestingly, we've seen Bitcoin's growing status among younger investors as a similar hedge. 'Out of local retail investors who are adjusting their portfolios based on a weaker USD, 27 per cent of Gen Z respondents said they will buy more crypto, the highest out of all generations. Indeed, 52 per cent of local Gen Z investors already hold crypto.'
