Israel’s PM Netanyahu: We targeted Iran’s main enrichment facility in Natanz
Israel's Prime Minister (PM) Benjamin Netanyahu said on Friday that Israel struck at the heart of Iran's nuclear enrichment program and nuclear weaponization program. Netanyahu also targeted Iran’s main enrichment facility in Natanz, adding that the operation will continue for as many days as it takes.
Key quotes
We are at a decisive moment in Israel’s history.
Our pilots are striking many targets in Iran.
Moments ago, Israel launched Operation Rising Lion, a targeted military to roll back the Iranian threat to Israel’s very survival.
This operation will continue for as many days as it takes.
This operation will hurt Iran’s nuclear infrastructure, ballistic missile factories and its military capabilities.
We struck at the heart of Iran's nuclear enrichment program and nuclear weaponization program.
We targeted Iran’s main enrichment facility in Natanz.
We targeted Iran’s leading nuclear scientists working on the Iranian bomb, we also struck the heart of Iran’s ballistic missile program.
Our fight is not with the people of Iran, our fight is with Iran's dictatorship.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) price is trading 6.25% higher on the day to trade at $71.82.
Risk sentiment FAQs
In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.
Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.
The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.
The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
Author
Lallalit Srijandorn
FXStreet
Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.
