Business

With stocks crashing in the pre-market, and VIX above 15, there is only one thing for it... Break The Market!!

Pre-market problems...

Solved...

• Markets Slide on Doubts that Trump Can Deliver (BBG)
• Dollar hits four-month low as Trump trade deflates (Reuters)
• These Charts Show Alarm Bells Ringing on Trump Trade (BBG)
• White House may court Democrats on tax reform (Reuters)
• Republicans Could Have Another Fight Over Tax Overhaul (WSJ)
• 'Religious left' emerging as U.S. political force in Trump era (Reuters)
• Democrats Weigh Next Steps on Gorsuch Nomination (WSJ)
• Iraq Military Rejects Claim U.S. Airstrike Killed Civilians (WSJ)

Gold, Silver Rise 2.5% and 3.2% As ‘Trump Trade’ Fades

Gold and silver jumped another 1% overnight in Asia, building on the respective 1.5% and 2.2% gains seen last week. The 'Trump trade' is fading, impacting stock markets and risk off has returned to global markets with the Nikkei, S&P 500 futures and European stocks weakening.

The rand tumbled as much as 1.7% and banking shares on the Johannesburg bourse fell more than 2% after South African President Jacob Zuma unexpectedly ordered Finance Minister Pravin Gordhan to return from an investor roadshow to Britain and the United States on Monday because he "did not give permission for the trip" a government source said.

"They were told last night or this morning to come back... the presidency did not give permission for the trip," the government source said.

By Shant Movsesian (RANsquawk) and Rajan Dhall MSTA (RANsquawk/Tradingview)

UK in the spotlight this week as Article 50 set to be triggered. Is this priced in to GBP? We’ll find out. The USD may start to find some support as key levels (against its major counterparts) near. Japanese year end on the Friday.