Daily Analysis - 10/12/2019
According to various sources reported to NBC News Yesterday, Democrats are preparing to publish two reports of impeachment - misuse of authority and interference of Congress by President Donald Trump today. The House Judiciary Committee listened to the attorneys of both parties for almost 10 hours on findings from the Intelligence Committee’s impeachment inquiry covering accusations that the President of the United States denied assistance to urge Ukraine to examine former Vice President Joe Biden.
Democrats stated that throughout the hearing the president disrupted his promise of office by exposing national security for private gain and by attempting to intervene in the 2020 election.
On Monday Oil fell following Chinese export numbers, which presented a decrease for the fourth month. The decline produced uncertainty in a market already concerned over the trade conflict between the U.S and China.
Brent futures dropped 14 cents, to complete at $64.23, following a profit of about 3% last week. West Texas Intermediate oil futures dropped 18 cents to settle at $59.01 a barrel.
The greenback and yen generally supported the safe-haven top area today, with traders cautious because of an upcoming deadline for US taxes on Chinese goods, expected Federal Reserve and European Central Bank meetings, and the British elections. The USD gained against the Japanese yen following last week’s drops, steadying at 108.61 yen. The dollar fell slightly versus the euro to $1.1065 and was even against a box of currencies at 97.622.
At today's opening bell the Pan-European Stoxx 600 fell 0.3%, with essential resources casting 1% to lead declines in all areas except healthcare, which increased 0.4%. Britain’s Prime Minister Boris Johnson’s Conservative Party continues to be the favorite to acquire a majority of seats, but the sentiment surveys have narrowed in recent weeks. Corporate news revealed that Tesco shares increased more than 5% yesterday following the UK’s biggest grocer reported over the weekend that it is analyzing the scenario for the sale of its Asian stores.
