Search ForexCrunch

Following the news that the House has voted to impeach the US President Donald Trump, US Senate Leader McConnell says best if congress spends the next 7 days on facilitating safe inauguration, orderly transfer of power.

Key comments

Says no chance a fair, serious impeachment trial of Trump could conclude before president-elect Biden is sworn in on Jan. 20.

Says Senate impeachment process will begin with the chamber’s first regular meeting following receipt of impeachment article from House.

Says even if the Senate began trial this week, no final verdict would be reached until after Trump left office.

Market implications

Markets are on the watch out for retaliation by Trump supporters in the form of protests. However, of far more interest, US President-elect, Joe Biden, will reveal his stimulus plan on Thursday. 

Technically, the US dollar is geared-up for an upside extension, contrary to the fact that the market is in anticipation of heavy stimulus fro the new Democratic White House.