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Trump takes centre stage after the second impeachment – UOB

FXStreet reports that senior Economist at UOB Group Alvin Liew assesses the developments and implications of the second impeachment of President Trump.

“After the riotous attack on the US Capitol last week, the US House of Representatives voted 232 to 197, to impeach US President Trump with the charge of high crimes and misdemeanors for inciting an insurrection at the US Capitol on 6 Jan 2021, making Trump the first sitting president to be impeached twice by the lower chamber of the US Congress. However, there may not be enough time to remove Trump before President-elect Joe Biden’s inauguration on 20 Jan.”

“Even if the impeachment proceedings will likely drag over into Biden’s term (after Trump’s official departure on 20 Jan), there will still be consequences for Trump. The first is that if he is to be impeached by the Senate, then a subsequent measure could be tabled against him to disqualify him from running for the US presidency in 2024. Secondly, Trump may also lose the perks given to former US presidents.”

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23:29 26.02.2021

Key events for next week: Eurozone, Britain, China and US PMI indices, RBA interest rate decision, Canada, Australia and Japan GDP, Eurozone and US unemployment rate, Canada and US trade balance

On Monday, at 00:00 GMT, Australia will release MI inflation gauge for February and ANZ's vacancy index for February, as well as announce changes in the company's operating profit for the 4th quarter. At 00:30 GMT, Japan will present the manufacturing PMI for February. At 01:45 GMT, China will release the Caixin Manufacturing PMI for February. At 07:30 GMT, Switzerland will announce the retail trade change for January. Then the focus will be on the manufacturing sector PMI for February:

19:02 26.02.2021

ECB's Governing Council member Stournaras says there is currently an unwarranted tightening of bond yields

There's no fundamental justification for a tightening of nominal bond yields at the long endGoverning Council should instruct board at March 11 meeting to fight unwarranted tightening of financial conditionsECB should accelerate PEPP purchases

18:40 26.02.2021

U.S.: Personal income surges and spending rebounds - TD Bank Financial Group

According to ActionForex, analysts at TD Bank Financial Group note personal income surged by 10% in January, while personal spending rose by 2.4%, and sugget another round of income support measures proposed in the American Rescue Plan combined with sizeable household savings should spur spending on activities put on hold during the pandemic."Personal income surged by 10% month-on-month in January, on par with market expectations. The strength was largely due to the increase in social benefits (