The financial and business markets are awaiting a number of important forex news events included in this week’s agenda, which are expected to have a wide impact on the performance of financial markets, including the forex trading market, during this week. We mention the most important of them, the inauguration of the new US President Donald Trump, his swearing-in and his speech His inauguration next Thursday, some Federal Reserve officials are also scheduled to make several statements that may give some indications of the possibility of raising interest rates in the coming period.
Another important forex news is British Prime Minister Theresa May's upcoming speech next Tuesday regarding the methodology of her administration's work on the British exit path, and on the other hand, the results of the European Central Bank meeting are expected to be released, which may give some indications about the future direction regarding the comprehensive easing program for the eurozone.
As for China, it will be on the date of the release of growth data for the fourth quarter of the year, which is highly anticipated to show the strength of the performance of the second largest global economy.
Below are some details of these important events:
1- The inauguration of the new US President Donald Trump
The whole world is waiting, especially investors in the financial markets and the stock market Forex The arrival of the new American president to his new residence in the White House and his inauguration speech, which is likely to carry some messages or details about the directions of the new administration, they are optimistic that he will talk about any details he may make regarding his election promises, including reforming the tax structure, developing Infrastructure as well as his policy with China.
Despite the disappointment of many after Trump's victory, and despite the ambiguity of the details of his economic plan, his victory was considered a major catalyst and supporter of the high performance of the markets since the elections so far.
2. Federal Reserve Chair Janet Yellen
Among the forex news and important, influential and expected economic events this week, a number of Federal Reserve officials made public statements, including its chair, Janet Yellen. The statements are expected to highlight the division among officials regarding raising interest rates in the coming months, and the markets are still living in a state of uncertainty that The Fed will raise interest rates three times in 2017, while traders expect the Fed to raise rates only twice this year.
3- British Prime Minister Theresa May's speech on Brexit
Also for those interested in following forex news, the British Prime Minister is scheduled to deliver her speech on the mechanisms and methodology of her administration’s work regarding the British exit procedures, next Tuesday, in front of a number of foreign diplomats, officials and the team responsible for Britain’s secession negotiations, and May has previously stated that her country will start the withdrawal procedures. The official statement from the European Union at the end of March, and it is expected that her speech will adopt a firm stance towards immigration operations at the expense of the British economy and its leaving the single market, which may push the British pound to further decline in the forex market to remain trading at its lowest levels.
4The results of the European Central Bank meeting
The European Central Bank’s decision on interest rates is expected next Thursday at 12:45 GMT, and it is expected that there will be no change in its monetary policy, especially after his statements that surprised the financial and forex markets when he announced that he would limit monthly bond purchases from 80 One billion euros, to reach 60 billion euros, starting next April, and it is expected that the central bank will move to reduce the size of the quantitative easing program as another measure after the move to reduce bond purchases.
5China's GDP data for the fourth quarter of last year
Chinese GDP data for the fourth quarter of the year is scheduled to be released next Friday at 2 GMT, and the numbers are expected to reveal the growth of the Chinese economy by 6.7% from the fourth quarter of last year, in the third quarter, the data showed that the growth rate was At the same rate mentioned, and if this expectation is confirmed, this may be an indication that the growth rate in China has begun to recover.
Also expected to be revealed with the GDP report are industrial production data for December, fixed asset investments and retail sales