North Korea update: Trump says "Frankly, patience is over ...'

Attention in the Geopolitical sense focuses on the tensions surrounding N.Korea situation. 

The U.S. ambassador to the United Nations warned that her country will take military action against North Korea if necessary and called on China and Russia to do more to implement existing sanctions.

This was in response to N.Korea warning that its ICBM can carry a nuclear warhead. Subsequently, the U.S. has called for global action and almost immediately announced a new joint military exercise with S.Korea. 

President Trump, after teaming with S.Korea and responding with a show of military power by firing a missile into the waters of the west coast of the Korean north peninsular, criticised China for failing to be more proactive with regards to North Korea on its nuclear program. 

Markets will take note and risk assets should benefit as Trump re-evaluates the United States trade relationship with Beijing in light of the growing provocations from Pyongyang. 

There will be a gathering of major world G20 economies this weekend where discussions about how to deal with the North Korean threat will be high on the agenda.