Trump’s Impeachment Cause Mild Declines, Focus on BOE
The US dollar‘s two-day rally across its main competitors was capped after the US House of Representatives voted to impeach President Trump on two accounts, abuse of power and obstruction of Congress. He is the third US President impeached in history. The impeachment papers will now reach to the Senate during early January. However, the White House is quite confident, due to the Republican Majority, that the Senate will acquit President Trump.
Asian shares mildly retreated from highs on Thursday after these headlines hit the wires while safe-havens yen and gold demands were lifted. Among the major currencies, the Aussie outperformed after rallying earlier following upbeat Australian jobs data.
Heading into the European session, the cable traded modestly flat lower than the pre-UK elections range due to hard Brexit and trade deal concerns. Key events from the UK will be in focus including the BOE’s interest rate and policy statement, Queen’s speech, and the UK retail sales.
Major economic events for today:
0300 GMT: JPY BOJ Monetary Policy Statement, BOJ Interest Rate Decision, BOJ Press Conference
0930 GMT: GBP Retail Sales (Nov)
1200 GMT: GBP BOE Interest Rate Decision, BOE Meeting Minutes, Monetary Policy Summary
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