United States

With President Donald Trump safely out of the country, joining French President Emmanuel Macron at a Bastille Day parade in Paris, A federal judge in Hawaii has ordered a temporary loosening of the Trump administration’s travel ban after finding that the administration’s strict interpretation of the Supreme Court’s decision isn’t justified. The ruling was issued by US District Judge Derrick Watson – a longtime Obama ally and the same judge who blocked the second “watered down” Trump travel ban back in March.

In a relatively shocking article - don't forget the Vatican has been extremely outspoken for a man in his office - a close ally of Pope Francis has written in a widely-read Vatican publication attacking Stephen Bannon, the senior White House strategist and lamenting a drift towards fundamentalism among some US conservative Catholics who backed Donald Trump as president.

It was another painfully low-volume overnight session, which however did not prevent global stocks from hitting another record highs, capping their best week in over two months as the dollar stayed close to nine-month lows following Yellen's dovish retreat in which she noted caution on persistently low inflation (hence today's CPI print will be especially important) as odds of future rate hikes in 2017 and 2018 dropped.

Authored by Nauman Sadiq via Oriental Review,

Authored by Jeff Trag via The Gatestone Institute,