By all means, 2016 was an incredibly eventful year. Brexit, Trump’s election, Italy’s referendum fail and many more happenings created a lot of uncertainty in the financial markets, which made it the most exciting it has been for years. Constant currency fluctuations created many great trading opportunities for investors using FxPro and 2017 looks set to be another year full of high market volatility. President Trump has already been inaugurated, but here are a few more important economic events that will or could occur in 2017.
Major Elections in EU Nations
The Netherlands, France and Germany are all gearing up for important elections in 2017. As three of the EU’s founding six members and three countries which represent 56% of the Eurozone’s economy, what happens in these elections could be revolutionary. Given the somewhat surprising Brexit vote, if two or more of these nations follow suit with a swing to the right, there are fears that it could signal the end of the EU. The Netherlands general elections take place in mid-March, France’s are around April/May, while the German general election isn’t until September/October.
US Interest Rates
The impact of President Trump is already being felt in many financial markets and his future actions remain unpredictable in many ways. What is expected is for the US Federal Reserve to raise benchmark rates three times across 2017. Trump’s effect could push rates even higher as well, depending on his policies.
Article 50 Triggering
Theresa May has said she will trigger Article 50 by the end of March at the latest, thus beginning the UK’s departure from the EU. Negotiations are bound to see the pound fluctuate in value once again, as well as having an effect on the stocks and other markets. A lot will depend on the outcome of the negotiations, the UK’s access to the single market and more.
China’s Communist Party Congress
China hasn’t been as powerful as it is now for years, and with its Communist party congress in autumn the world could find out more about its economic ambitions. In the meantime, dealing with a slow growing economy and any challenges President Trump introduces will keep its leaders busy.
Potential Banking Crisis?
Bank failures in Italy seem to be an annual event in themselves nowadays, and even though Greece has been bailed out in the best there remain concerns about its economic stability. If there are changes across the EU it could push these to the forefront and possibly result in another banking crisis in Europe.
For anyone with a vested interest in any financial markets, keeping on top of these financial events is a must for 2017.
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