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The Week Ahead: 5 Things to Watch on the Economic Calendar

Investing.com - In the week ahead, global financial markets will continue to focus on U.S. President-Elect Donald Trump as he takes the Oath of Office and offers his inaugural address on Thursday.
In addition, there are a handful of Federal Reserve speakers on tap, including Chair Janet Yellen, as traders look for more clues on the likelihood of higher interest rates in the months ahead.
Meanwhile, in the U.K., market players will pay close attention to a highly-anticipated speech by Prime Minister Theresa May on Tuesday, at which she is expected to set out the approach her administration will take to Brexit.
In the euro zone, traders will await the outcome of Thursday’s European Central Bank meeting for fresh clues on the future path of the region's massive stimulus program.
Elsewhere, China is to release what will be closely watched fourth-quarter growth data amid ongoing concerns over the health of the world's second biggest economy.
Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.
1. President-elect Donald Trump's Inauguration
Ten weeks after shocking the world by winning the U.S. election, Donald Trump will be sworn in as the 45th President of the United States at 12:00PM ET (17:00GMT) on Friday in Washington, D.C.
Investors will welcome any detail he may give on his promises of tax reform, infrastructure spending and deregulation, as well as insight regarding policies on China and the domestic economy.
President-elect Trump has been credited with being a major catalyst behind the market's impressive rally since election day, although he has yet to outline his economic policies in detail.
Markets were disappointed last week after Trump failed to offer details on his promises to boost fiscal spending and cut taxes at a highly-anticipated news conference on Wednesday.
2. Fed Chair Janet Yellen Speaks
A handful of Fed policymakers are due to make public appearances this week that may offer insight into how divided they are about raising rates in the coming months.
Tuesday sees New York Fed President William Dudley, Fed Governor Lael Brainard and San Francisco Fed President John Williams make public appearances.
On Wednesday, Fed Chair Janet Yellen is due to speak on the economy to the Commonwealth Club of San Francisco at 3:00PM ET (20:00GMT).
On Thursday, San Francisco Fed's Williams and Boston Fed President Eric Rosengren are on tap. Later in the day, Fed Chair Yellen is scheduled to speak at an event at Stanford University at 8:00PM ET (01:00GMT Friday).
Finally, on Friday, Philadelphia Fed President Patrick Harker and San Francisco Fed's Williams are scheduled to deliver comments.
Markets remained unconvinced of the Fed's projection of three rate hikes in 2017. Instead, investors are pricing in just two rate hikes during the course of this year, according to Investing.com’s Fed Rate Monitor Tool.
3. U.K. Prime Minister Theresa May Speaks on Brexit
U.K. Prime Minister Theresa May is due to set out the approach her administration will take to Brexit in a speech at the Lancaster House in London on Tuesday before an audience including foreign diplomats as well as Britain's own Brexit negotiating team and other senior officials.
May has previously stated she will trigger Article 50, which starts the formal withdrawal process from the European Union, by the end of March, but has given little away about what deal she will be seeking, frustrating some investors, businesses and lawmakers.
Many think she will take a hard line on immigration at the cost of Britain's access to the single market, which would send the pound sharply lower.
4. European Central Bank Policy Meeting
The European Central Bank's latest interest rate decision is due at 12:45GMT (7:45AM ET) on Thursday, with most not expecting any change in policy after the central bank surprised markets by saying it would trim its monthly bond purchases to 60 billion euros starting in April, down from 80 billion euros now.
Most of the focus will likely be on President Mario Draghi's press conference 45 minutes after the announcement.
A recent Reuters poll found that the ECB's next policy move after April, when it is due to reduce monthly bond purchases, will be to cut the size of the quantitative easing program further, citing signs of economic stabilization and rising inflation.
5. China Q4 GDP
China is scheduled to release data on fourth-quarter gross domestic product at 02:00GMT on Friday (9:00PM ET Thursday). The report is expected to show the world's second largest economy grew 6.7% in the final three months of last year. The economy grew by a similar amount in the third quarter and if confirmed, it could be a sign that growth in China is finally bottoming out.
The Asian nation will also publish data on December industrial production, fixed asset investment and retail sales along with the GDP report.
Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

Gold / Silver / Copper futures - weekly outlook: January 16 - 20

Investing.com - Gold ended lower on Friday as investors took profits after prices hit a seven-week peak in the previous session, but still notched up a third consecutive weekly gain.
Gold for February delivery settled down 0.21% at $1,195.3 on the Comex division of the New York Mercantile Exchange.
The metal was still 1.98% higher for the week, helped by a broad weakening of the U.S. dollar.
The U.S. dollar index posted its largest weekly decline since late October, shedding 1.0% as optimism cooled over President-elect Donald Trump’s economic policy proposals.
The drop in the dollar came after Trump disappointed traders who had been hoping he would address economic and fiscal policies in his first formal news conference as U.S. president-elect.
The dollar had rallied to 14-year peaks earlier this month on expectations that Trump's policies would spur growth and inflation and prompt the Federal Reserve to raise interest rates more quickly.
Trump will officially take office on January 20.
Elsewhere in precious metals trading, silver was at $16.83 a troy ounce late Friday, and ended the week with gains of 1.69%.
Copper was up 1.29% at $2.70 a pound and ended the week up 6.62% on hopes for increased demand from top consumer China.
Platinum was up 0.31% on the day at $987.75 an ounce and was up 1.53% for the week.
In the week ahead, financial markets will continue to focus on U.S. President-elect Trump ahead of his inauguration on Friday.
Investors will be looking ahead to Thursday’ policy announcement by the European Central bank and Chinese data on fourth quarter growth, due for release on Friday.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, January 16
U.S. financial markets will be closed for Martin Luther King Day.
Bank of England Governor Mark Carney is due to speak at an event in London.
Tuesday, January 17
New Zealand is to release private sector data on business confidence.
The U.K. is to release data on inflation.
The ZEW Institute is to report on German economic sentiment.
New York Fed President William Dudley is to speak at an event in New York and the U.S. is also to release the Empire state manufacturing index.
U.K. Prime Minister Theresa May is due to speak about starting proceedings for Britain’s exit from the European Union.
Wednesday, January 18
The U.K. is to publish its monthly jobs report.
The euro zone is to release revised data on inflation.
The U.S. is to publish figures on inflation and industrial production. Later in the day, Fed Chair Janet Yellen is to speak at an event in San Francisco.
The Bank of Canada is to announce its latest monetary policy decision and hold a press conference to discuss the economic outlook.
Thursday, January 19
Australia is to publish its monthly employment report.
The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
Canada is to report on manufacturing sales and foreign securities purchases.
The U.S. is to release a series of reports, including data on building permits, housing starts, initial jobless claims and manufacturing activity in the Philadelphia region.
Fed Chair Janet Yellen is to speak at an event in Stanford.
Friday, January 20
China is to release data on fourth quarter growth as well as figures on industrial production.
The U.K. is to release data on retail sales.
Canada is to round up the week with data on retail sales.