Crude oil spiked yesterday on the surprise sacking of the US secretary of state, but the lift was only temporary as the technical outlook weakened. Still, the threat of sanctions on Iran will likely keep the downside risk capped for now.

• WTI's initial Rexit rally became a scramble to get out
• Gold receives another Trump boost on trade war fears
• Steep drop for CAD on possible Canadian steel tariffs
• Important CPI release today after recent EURSEK rise above 10.00
• USD: CPI in-line at 1.8%/2.2%; more political volatility on Tillerson firing
• HG Copper rallied to the middle of its current $3 to $3.30 range