OPEC Jawboning, Equities up in high liquidity environment, Import Taxes, Trump Optimism, and Geo-political tensions with Iran all propping up Oil, keeping it higher than the fundamentals of the market currently justify.
President Trump blasted Australian Prime Minister Malcolm Turnbull over a refugee agreement and boasted about the magnitude of his electoral college win, according to a WaPo report citing senior U.S. officials. Then, 25 minutes into what was expected to be an hour-long call, Trump abruptly ended it.
"This is not the first time that an inexperienced person has threatened Iran ... the American government will understand that threatening Iran is useless," Ali Akbar Velayati said, without identifying any U.S. official specifically in his comments.
Following President Donald Trump’s ban on travelers from seven predominantly Muslim countries, the Iranian government announced it would stop using the U.S. dollar “as its currency of choice in its financial and foreign exchange reports,” the local Financial Tribunereported.
"Iran has been formally PUT ON NOTICE for firing a ballistic missile.Should have been thankful for the terrible deal the U.S. made with them! Iran was on its last legs and ready to collapse until the U.S. came along and gave it a life-line in the form of the Iran Deal: $150 billion."
"As of today, we are officially putting Iran on notice," Flynn told a White House briefing, without explaining exactly what that meant, although it is clear that any more provocations by Iran and whatever existing deals Iran had with the Obama administration will almost certainly be revised if not torn up.
Iran's defense minister said on Wednesday the Islamic Republic had tested a new missile, but added the test did not breach Tehran's nuclear accord with world powers or a U.N. Security Council resolution endorsing the pact.
"From the beginning my concern has been that Trump has no experience in the economic and foreign policy debates. He doesn’t know the issues or the players. But he knows two big things: the middle and working class are hurting, and conflict with Russia could result in thermo-nuclear war. My view is support him on these two most important of all issues."
Despite yet another poll from Reuters/Ipsos confirming that the silent majority of Americans support Trump's temporary immigration ban, 900 Clinton loyalists in the State Department have decided to sign a "dissent memo" in direct defiance of their new boss. Shocking.
But by whatever slurs they are called, Middle Americans seem prepared to fight. And history shows that such people do not calmly accept the loss of what is most precious to them - the country they grew up in, the country they love. They have turned to Trump to lead them. Ten days in, and already it is “Game On!”
Having backtracked on its proposal to ban green card holders from 7 mostly Muslim countries from entering the US, it now appears that the Trump admin has softened its stance regarding the admission of refugees, and according to Reuters, citing an internal DHS document, the U.S. government has granted waivers to let 872 refugees into the country this week.