President Trump Vows Trade Actions Against North Korea
This is what you need to know on Monday:
1. European stocks are expected to open firmly to the downside Monday amid the ongoing crisis in North Korea after President Donald Trump vowed trade action against the rogue nation and it neighbours after it tested a powerful hydrogen bomb over the weekend.
2. U.S. Treasury Secretary Steven Mnuchin told Fox News Sunday that he would draft a sanctions package for the President indicating that "anybody that wants to do trade or business with them would be prevented from doing trade or business with us ... people need to cut off North Korea economically. This is unacceptable behavior."Investors take risk positions off the table amid thin liquidity on a U.S. holiday
3. Investors take risk positions off the table amid thin liquidity on a U.S. holiday and move cash into safe haven assets such as gold, the yen Swiss franc.
4. Gold prices jumped more than $13 an ounce to around $1,337 in early European trading while the U.S. dollar index, which measures the greenback's strength against a basket of six global currencies, slipped 0.2% to 92.65.
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