{"id":156138,"date":"2019-09-25T09:30:39","date_gmt":"2019-09-25T13:30:39","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=156138"},"modified":"2019-09-25T08:45:23","modified_gmt":"2019-09-25T12:45:23","slug":"equities-lower-on-trump-impeachment-news","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/09\/equities-lower-on-trump-impeachment-news\/","title":{"rendered":"Equities Lower On Trump Impeachment News"},"content":{"rendered":"
September 25, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

USD Safe Haven Inflows Seen<\/strong><\/h2>\n

The US dollar has had a quiet start to the day over the European morning on Wednesday.<\/strong>\u00a0Little in the way of tier one data so far this week has seen USD index price fluctuating between highs of 98.45 and lows of 97.73. News of Nancy Pelosi launching impeaching proceedings into trump\u2019s dealings with Ukraine has added some uncertainty midweek But, for now, this is having little impact on USD.<\/p>\n

EUR Still Capped By 1.1025<\/strong><\/h2>\n

EURUSD is back under pressure today with price sitting below the 1.1025 level still.\u00a0Poor data earlier in the week from Germany and the eurozone has set the tone to the week for EUR though we did see some upside yesterday on USD weakness.<\/strong>\u00a0With little key EUR news left this week, flows are likely to remain tied to USD.<\/p>\n

GBPUSD Bear Channel Still in Play<\/strong><\/h2>\n

GBPUSD has started the day a little softer also in light of a stronger USD. News of the UK Supreme Court finding against Johnson over his proroguing of parliament has created\u00a0further volatility in Brexit proceedings<\/a>\u00a0with markets now waiting to see how parliament proceeds.\u00a0GBPUSD trades 1.2433 last,<\/strong>\u00a0still sitting above 1.2382 for now, but yet to challenge the bear channel top.<\/p>\n

Risk Assets Rocked by Trump Impeachment News<\/strong><\/h2>\n

Risk assets have taken a knock lower mid-week on the prospect of\u00a0President Trump being impeached.\u00a0<\/a><\/strong>Following months of threats and deliberation, Nancy Pelosi formally launched an impeachment inquiry yesterday, met by ferocious defense from trump who has promised to release full and unredacted transcripts of his conversation with the Ukrainian president. SPX500 trades 2958.48 last, probing fresh 3 week lows.<\/p>\n

JPY & Gold Down<\/strong><\/h2>\n

Safe havens have had a softer day despite the risk-off appetite which has seen equities markets trading lower. Both JPY and gold have been lower against USD suggesting the greenback remains the preferred safety play.\u00a0USDJPY trades 107.28 last,<\/strong>\u00a0though price is well off last week\u2019s highs around 108.47.\u00a0XAUUSD trades 1531.37,<\/strong>\u00a0still sitting back above the 1522.75 level for now.<\/p>

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API Surplus Hits Oil<\/strong><\/h2>\n

Oil has been lower again today, having sold off each day this week fears over the health of the global economy continue to weigh on the demand outlook.\u00a0 The API yesterday reported a 1.4 million build in crude stores which is adding further pressure. The market now waits for the headline EIA report later today which could create further bearish pressure if a surplus is confirmed.\u00a0Crude trades 56.42 last.<\/strong><\/p>\n

Loonie Heads Lower<\/strong><\/h2>\n

USDCAD has been a little lower today despite a firmer USD and weaker oil prices.\u00a0USDCAD has put a great deal of pressure on the 1.33 level over recent weeks but has been unable to hold above it.<\/strong>\u00a0While price remains above the 1.3207 level though, focus remains on a further grind higher.<\/p>\n

Aussie Under Pressure<\/strong><\/h2>\n

AUDUSD has been weaker today, frustratingly for bulls.<\/strong>\u00a0Price was seen higher yesterday in response to USD weakness but flows have since reversed today. AUD remains very much tied to the ongoing US\/China trade negotiations and unless the next round of trade talks can deliver some good results it seems that fresh lows are in store for AUD.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex USD Safe Haven Inflows Seen The US dollar has had a quiet start to the day over the European morning on Wednesday.\u00a0Little in the way of tier one data so far this week has seen USD index price fluctuating between highs of 98.45 and lows of 97.73. News of Nancy Pelosi launching impeaching […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-156138","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=156138"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156138\/revisions"}],"predecessor-version":[{"id":156140,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/156138\/revisions\/156140"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=156138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=156138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=156138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}