WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Taking their cue from the positive tone on Wall Street, major Asian bourses gained on Thursday, with the MSCI Asia ex Japan index moving further away from Friday’s one-month low, while in Europe, most equity indices moved broadly sideways in early trade. In FX market, the GBP was rising in early European trade for a third session in a row hovering around levels of 1.3461/62 against the USD, up from a 31-year low of 1.3121 hit on Monday. On the US data calendar, jobless claims and Chicago PMI for May are due later in the day, while, in the Euro area, flash HICP estimate for June also lure market attention.
GREECE: President of Eurogroup, Jeroen Dijsselbloem, reportedly stated that if Greece fully implements the 3rd ESM programme then after its completion in the second half of 2018, a new discussion could potentially begin both on the reassessment of the 3.5%-of-GDP medium term primary surplus target and public debt. He added that, for the time being, however, the agreement is sealed and there is no need to re-open it.
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