While not directly applicable to forex, the news of a judge granting a search warrant to the FBI given probably cause of criminal behaviour is attracting a lot of interest. Given Trump’s close links to Putin and other nefarious actors, his attempts at a coup, his leading of a violent cop-killing insurrection, and other activites, there could be more to this than meets the eye. I guess we’ll find out in time.

Reuters have a recap up of all the legal investigations into former President Trump. Allegations include:

• boxes of White House documents from Trump’s Florida home, some of which contained classified materials
• trying to overturn his 2020 election defeat
• obstruct any official proceeding
• raised some $250 million from supporters to advance fraudulent claims in court that he won the election, but steered much of the money elsewhere
• efforts to influence the Georgia’s 2020 election results

The list goes on, Reuters link is here for more.

The ex-Prez playing golf a few weeks ago.

EUR traders will be keeping an eye on Italian politics ahead of the September 25 election.

Italian politics are volatile, an alliance formed late last week has been called off already:

ver the weekend (late Friday to be more accurate), Moody’s:

• affirmed Italy’s sovereign rating at Baa3
• cut Italy’s outlook to “negative” from “stable”

The agency citing:

• “Risks to Italy’s credit profile have been accumulating more recently because of the economic impact of Russia’s invasion of Ukraine and domestic political developments, both of which could have material credit implications”
• higher funding costs
• increased risk that energy supply challenges would weaken economic prospects
• sluggish growth may pressure Italy’s fiscal strength.