I think the moves in the US are more likely due to the actual economic situation than the ME conflict. This has a greater effect on the direction - ME might be the reason provided for the move though.
Commodities might increase / decrease based upon their perceived change in safety or supply along with decreased demand going forward. For Oz that's a bigger impact overall.
XJO - Bear Posts only (Factors which might cause the markets to fall), page-15406
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