The Impeachment inquiry of the U.S President

Daily Analysis - 25/09/2019

The House will begin an impeachment request into President Trump


On Tuesday House Speaker Nancy Pelosi announced that the House will begin an impeachment inquiry into President Donald Trump upon accusations that the president abused his power.

Fears have arisen surrounding the president’s attempts to urge Ukraine to investigate Joe Biden's family the former Vice President. Joe Biden is one of his topmost opponents for the presidency in 2020. Pelosi said in remarks to the nation. “The actions of the Trump presidency revealed the dishonorable fact of the president’s betrayal of his oath of office, betrayal of our national security and betrayal of integrity of our elections” and added “Therefore, today, I’m announcing the House of Representatives is moving forward with an official impeachment inquiry. I’m directing our six committees to proceed with their investigations under that umbrella of an impeachment inquiry.”

Gold fall from 21-day top

On Wednesday the popular Gold fell while some traders received their profits. However, the yellow metal continued to maintain under a 21 day top that marked in the previous trading session, while the start of a formal impeachment inquiry into Donald Trump rose political problems.

U.S. gold futures dropped 0.2% to $1,537.01 per ounce.

Spot gold fell 0.1% to $1,529.61 per ounce following a rise to its most expensive level since the beginning of the month.


Oil continues to going under due to U.S-China uncertainty

On Wednesday Oil dropped once again. This is the second day of declines as concerns that fuel interest could drop following U.S. President Donald Trump pressed the recent confidence over China-U.S. trade discussions. U.S. West Texas Intermediate crude fell 35 cents to $56.92 while Brent crude futures dropped 47 cents to $62.62 a barrel.

The two benchmarks dropped to their weakest level before the attack on Saudi Arabian oil plants on the 14th of September.


Greenback holds back due to the impeachment inquiry

On Wednesday during the Asian session, the greenback maintained its levels however the defensive mood prevailed. That was after the start of a formal impeachment inquiry upon Donald Trump the president of the United States and while the political uncertainty continued to pile up regarding economies that got damaged by the China-U.S. trade dispute. The Greenback went up 0.2% to 107.27 yen, having moved to a 14-day low of 106.95 the previous trading session.


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