United States

The Trump administration just fired the first shot in the US-European currency, and thus trade, wars when Trump's top trade advisor Peter Navarro accused Germany of using a “grossly undervalued” euro to "exploit the US and its EU partners", the FT reported noting the comments are "likely to trigger alarm in Europe’s largest economy." News of the statement sent the EURUSD surging and the dollar tumbling to fresh 2 month lows.

European bonds fell and stocks rose led by banks and retailers as surging inflation data prompted investors to switch into reflationary assets even as speculation about ECB tapering has returned. Asian stocks and US equity futures declined. The Yen and gold advanced after Trump’s firing of the U.S. acting attorney general added to concern over the unpredictability of decisions in the new administration.

In addition to creating mass chaos in America's airports and general confusion around the world, Trump's immigration ban is putting Saudi Arabia, a key ally in the middle-east, in a fairly awkward position.  Per the Wall Street Journal, Trump's immigration ban, which currently does not include Saudi Arabia, has put the country in the awkward position of having to manage a desire to pursue stronger ties with the U.S. at the risk of alienating key allies, like Yemen and Sudan, that will inevitably view such a move as abandoning Muslim neighbors.

Submitted by Michael Snyder via The Economic Collapse blog,

Having said the infamous words "you're fired" once already this evening, when President Trump relieved acting AG Sally Yates of her duties just after 9pm Eastern, and perhaps realizing just how much he missed the sound, moments ago Trump also relieved acting Immigration and Customs Enforcement (ICE) Director Daniel Ragsdale, who was replaced with Thomas Homan, who previously led ICE's "efforts to identify, arrest, detain, and remove illegal aliens, including those who present a danger to national security or are a risk to public safety, as well as those who enter the United States illegally