In an economic week in the US where the existing home sales, the weekly unemployment claims and the flash manufacturing PMI are the only events on the docket, it is hard to get too excited about the prospects for trading. At least from the economic release angle.

However, the US impeachment trial of President will begin this week with enough uncertainty and drama for viewers to be mesmerized – and potentially ruin any hope of movements in the forex markets as a result of the made for TV drama.

At the end of the day, however,it will take a “2/3 supermajority of those present in the Senate” to impeach the President. With 53 Republicans, 45 Democrats and 2 Independents, the odds are in the President’s favor that he will NOT be impeached.

Nevertheless, the show must go on and there are other battles to be won through the process. It is after all, an election year.  If impeachment is not possible, voting out the President or shifting the power in the House and Senate is at stake.  It IS a high stakes game.

To defend himself, President Trump announced his team of lawyers who will defend him yesterday.  Included in the list is Alan Dershowitz.

Dershowitz is a retired Harvard Law Professor and famed criminal defense attorney.  He  became the youngest full professor of law at Harvard in its history at the age of 28.

Dershowitz is a Democrat who endorsed Hillary Clinton, calling her a “progressive on social issues, a realist on foreign policy, a pragmatist on the economy”.  He also supported Barack Obama for re-election on the basis of his “excellent judicial appointments, his consensus-building foreign policy, and the improvements he has brought about in the disastrous economy he inherited”.

He campaigned against Trump during the 2016 election, and has been a critic of some of his actions including his travel ban, and the rescission of protections for “dreamers”.

Sounds like a Trump type of guy right?  I would have expected that Trump would steer clear of that resume and might have taken a shot or two at him on Twitter at some point as well.

However, Dershowitz has also be supportive at times of the President calling the Trump’s alleged disclosure of classified information to Russia as the “most serious charge ever made against a sitting president”, and called the Democrats attacking Trump’s mental fitness as a “very dangerous” line of attack.