Forex Signals Brief for Feb 9: The Impeachment Begins
Rowan Crosby • 2 min read
US markets kept on pushing higher yesterday, in what has been a trend for the month of February so far.
However, today marks the beginning of US President Trump’s impeachment so could that be the trigger to shake things up a bit?
Of course, President Trump is now a private citizen so it’s unconstitutional to impeachment him. So what’s going on exactly? It could also be an interesting platform to reveal issues around the election. Regardless, we could see some volatility ahead, particularly, if the mainstream media chooses to cover the proceedings. For the record, US President Trump won’t be attending.
We have been seeing volatility in the USD recently and also the precious metals markets, so there are certainly things happening at the moment.
Another very interesting political event at the moment is Israeli Prime Minister Benjamin Netanyahu, who’s corruption trial resumes. We’re seeing so much happening around the world in terms of Governments at the moment, that it’s almost hard to keep up.
The Data Agenda
The data is going to be pretty thin today, short of German trade balance and JOLT job openings in the US.
Fortunately, geopolitics will keep traders on their toes and markets active.
Forex Signal Update
The FX Leaders Team didn’t close any green signals yesterday as markets were relatively choppy.
EUR/GBP – Active Signal
The EUR/GBP is continuing to hold this downtrend really well and we remain short here.
USD – Watching
The Greenback has really turned around over the past few sessions and this is putting some upward pressure back on the majors.
The main story overnight was really all about BTC and the fact that Elon Musk and Telsa are now investors and going to be accepting it as a form of payment.
The crypto space has been very active lately, so this is an area you need to be paying close attention to.
BTC tagged $47,500 and it’s hard to argue with that price action now.