Market Brief Traders Shrug Off Impeachment Headlines
See a summary of the top market themes and trends from today's US trading session!
Share this:
View our guide on how to interpret the FX Dashboard.
- As we go to press, the House of Representatives is still debating over impeaching President Trump, with a vote expected later this evening. The vote is anticipated to fall along party lines in favor of impeachment, though the likelihood that the Senate removes the President from office remains remote, limiting the impact on markets.
- Fed members Williams and Evans both spoke out in favor of leaving interest rates unchanged in the near-term, cementing the impression that the Fed will be on hold heading into the new year.
- FX: The Canadian dollar was the strongest major currency on the day on the back of solid inflation (CPI) and housing (Teranet price index) data. The euro and British pound were the day’s weakest major currencies. Tomorrow’s Bank of England meeting will be among the last major trading events of the week, year, and decade.
- Commodities: Oil closed essentially flat on the day, despite data showing a smaller-than-expected drawdown in inventories. Gold was also flat while Bitcoin rallied back above $7k to erase the last two days’ worth of losses.
- US indices closed mixed in quiet pre-holiday week trade. European indices closed mixed, with German stocks sliding, while UK stocks ticked higher in quiet trade.
- REITs (XLRE) went from worst to first to be the strongest major sector today; Industrials (XLI) were the weakest.
- Stocks on the move:
- FedEx (FDX) shares dumped -10% after a big miss in the shipping company’s earnings and outlook for next year.
- Automaker Tesla (TSLA) is reportedly considering cutting the price of its Model 3 sedan. The stock closed the day 4% higher.
View our guide on how to interpret the FX Dashboard.
- As we go to press, the House of Representatives is still debating over impeaching President Trump, with a vote expected later this evening. The vote is anticipated to fall along party lines in favor of impeachment, though the likelihood that the Senate removes the President from office remains remote, limiting the impact on markets.
- Fed members Williams and Evans both spoke out in favor of leaving interest rates unchanged in the near-term, cementing the impression that the Fed will be on hold heading into the new year.
- FX: The Canadian dollar was the strongest major currency on the day on the back of solid inflation (CPI) and housing (Teranet price index) data. The euro and British pound were the day’s weakest major currencies. Tomorrow’s Bank of England meeting will be among the last major trading events of the week, year, and decade.
- Commodities: Oil closed essentially flat on the day, despite data showing a smaller-than-expected drawdown in inventories. Gold was also flat while Bitcoin rallied back above $7k to erase the last two days’ worth of losses.
- US indices closed mixed in quiet pre-holiday week trade. European indices closed mixed, with German stocks sliding, while UK stocks ticked higher in quiet trade.
- REITs (XLRE) went from worst to first to be the strongest major sector today; Industrials (XLI) were the weakest.
- Stocks on the move:
- FedEx (FDX) shares dumped -10% after a big miss in the shipping company’s earnings and outlook for next year.
- Automaker Tesla (TSLA) is reportedly considering cutting the price of its Model 3 sedan. The stock closed the day 4% higher.
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
USD/JPY outlook: Hawkish Fed recalibration pressures the yen
Stronger US growth momentum and rising Treasury yields are keeping USD/JPY pointed higher, even as Japanese policymakers try to limit the pressure building across domestic markets.
USD/MXN Forecast: Peso Loses Momentum Ahead of Banxico Decision
Over recent trading sessions, the Mexican peso has started to show signs of losing strength against the U.S. dollar. This can be seen in the performance of USD/MXN, which has gained more than 1.7% over the last three sessions, highlighting the dollar's renewed strength against the peso.
Euro Short-term Outlook: EUR/USD Selloff Nears Critical Yearly Support 9 23 2026
Euro has fallen seven of the past nine sessions, with stretched momentum raising the stakes as EUR/USD closes in on a major inflection zone.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.