The markets are set for a huge end of the week, leading into the weekend, with the Donald Trump inauguration rightfully dominating headlines. Other notable events to watch is a speech by Fed Reserve Chair, Janet Yellen and also GDP figures from China.

The inauguration will be intensely scrutinised by all and sundry as Donald Trump is sworn in as the 45th President of the United States. Every word will be closely examined for clues as to the future of the US economy. Even the tone and body language will be watched with interest as people “size up” the new President and try to figure out what type of leader he is going to be. A particularly confident (but not ridiculously arrogant) Trump may appeal to markets and we could see markets rally, while a more cautious and reserved Trump may see markets pause. If the President doesn’t provide a lot of detail about his term in office or the economy, it could make the markets jittery, which may send safe haven assets like gold, up. There are plenty of things that could see markets head one way or the other. A detailed infrastructure plan that is adequately funded, will be looked upon favourably by markets, as Trump has already outlined infrastructure spending during the election campaign. Then there’s also the post inauguration market movements to also consider as markets have time to think about and digest Donald Trump’s speech and what it means for the country, long term.

Fed Reserve Chair Janet Yellen is also set to deliver a speech well before the inauguration. This could be an opportunity to hear the central bank’s view on the new Presidential administration and how the Fed will work with Trump to help strengthen the economy through monetary (Fed) and fiscal (Government) measures.

As far as announcements go, the most important ones are coming out of China. They are releasing their crucial GDP figures. They are also releasing; Industrial Production, Fixed Asset Investment and Retail Sales data. The most important figures are of course the GDP and Industrial Production figures. Much of the world relies on the continual growth of the Chinese economy as the rest of the world suffers from anaemic growth and low inflation. China’s appetite for growth and the resources that growth requires, helps smaller countries maintain their own economies. With this growth comes infrastructure, which means industrial production. A strong number means the industrial sector is still in a healthy state. This sector is vital to the growth of the Chinese economy.

Elsewhere, the UK is releasing vital Retail Sales figures, Europe is releasing German PPI data and Canada is releasing CPI & Core CPI as well as Retail & Core Retail Sales figures. Meanwhile, Fed Reserve (FOMC) Member Patrick Harker, is set to speak.