Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Wall Street ended in the black overnight for a second consecutive day, following a better-than-expected final Q3 GDP reading. Elsewhere, most Asian bourses advanced on Wednesday taking their cue from Wall Street, while major European equity indices received some respite in early trade on higher commodity shares, snapping a three-session losing streak. In FX markets, the DXY dollar index rose 0.2% at 98.383 in early European trade following three consecutive declining sessions, while the EUR/USD was losing ca. 0.3% at 1.0927/28 at the time of writing, giving back some of its previous sessions’ gains. The data calendar is reasonably light today, though US November private spending and durable goods orders will be worth watching.
GREECE: The European Stability Mechanism (ESM) approved yesterday the release of the pending €1bn loan installment to Greece, which constitutes the third disbursement of the €16bn sub-tranche of the loan agreed in August. According to provisional data published on Tuesday, December 22nd by the Bank of Greece, the balance of travel services recorded a surplus of €784mn in October 2015, decreased by 5.4% compared to October 2014.
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Daily Overview December 23 2015
