Donald Trump’s inauguration day
Schedule of the day
The inauguration ceremony will start at 11.30 am local time (6:30 pm MT time). After the oath, Mr. Trump will give an inaugural speech. Later there will be a lot of celebrating: a parade with about 8,000 participants and 3 balls.
What will Trump say?
According to Trump’s team, the President-elect has written his inauguration address draft himself. However, don’t expect the new President to speak about the economic policy. The speech will likely contain some very general ideas and principles. For example, John F Kennedy urged Americans to “ask not what your country can do for you – ask what you can do for your country” in his inaugural speech. Trump’s predecessor, Barack Obama, mentioned Abraham Lincoln’s ideals of renewal, continuity and national unity to stress the need for shared sacrifice and a new sense of responsibility to answer America’s challenges at home and abroad.
Monday will be Day 1 in Trump’s America
In his recent interview with the Times of London, Trump said that although he will be inaugurated on Friday, the first day of his administration will be Monday. Earlier Trump’s spokesman had announced that there would be 4 or 5 executive actions taken on “Day One”. Yet, as we are talking about Trump, who’s known for his unpredictability and flamboyant behavior, the small doubt of when to expect important announcement – on Friday or Monday – still exists.
Impact on Forex market
As you can see from the presented above, Trump's inauguration itself will unlikely provide any new information for Forex traders. The event will take place during the final part of the trading day on Friday and probably won’t contain any substantial things. Remember that Trump’s first news conference on Jan. 11 disappointed those who wanted to know more about his plans.
Although we don’t expect much from the upcoming events on Friday, traders are still likely to act nervously. As a result, be ready for the increased volatility during the US trading session on Friday.
All in all, the markets have already made all the possible trading on Trump’s pre-election promises. In the medium- and long-term much will depend on whether these promises are followed by action. The lack of the promised fiscal stimulus will prevent the USD from gaining much, and the greenback will continue drifting lower until the Federal Reserve raises its interest rate.