US President Donald Trump is having a difficult time, as he lost when he tried to block the release a whistleblower report regarding a suspicious phone call he held with the President of Ukraine in July. The report made its way to the Democrats-dominated House of Representatives that is currently investigating Trump as part of a formal impeachment probe.
The financial markets so far haven’t been too rattled by the impeachment scandal. Analysts predict that even if Donald Trump’s impeachment reaches the Senate, it won’t gather enough votes for him to be removed from office. The Senate, unlike the House of Representatives, is dominated by Republicans. Nevertheless, there is a small possibility that not all Republicans will back Trump, as his policies haven’t always been in line with what the party stands for.
Across the pond, the economic situation in Europe is far from great. Nobody knows what to make of the current Brexit situation, as pretty much any scenario seems viable at the moment. Johnson might reach a deal with the EU, but it’s unclear if Parliament will like it better than May’s and approve it. If the PM fails, he will have to ask for an extension - which the EU might not grant. The pound is losing its positions amid all of the uncertainty. The euro also decreased in value as weak economic data from the eurozone promises trouble ahead.
