The weekend headlines continue to rock markets as another gap-up in oil drove reverberations across the macro space. Stocks sold off and the USD rallied, at least initially, as tensions flared from the Strait of Hormuz. There was also a bit of confusion as President Trump announced a postponement of strikes on Iranian energy infrastructure, which was then refuted by Iranian sources. But, given the trajectory of markets with a continued recovery it seems that the bias remains on President Trump’s remarks although we’re still at an early stage of the matter. In gold, a painful finish to last week led to a painful start ... (full story)