Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Press reports suggested that Democrat Hillary Clinton emerged as the winner in yesterday’s first televised debate looking more presidential than her rival Republican Donald Trump. In reaction to the above, the Mexican peso gained sharply across the board. On a trade-weighted basis, the USD was little changed compared to yesterday’s settlement but still 0.7% lower relative to levels recorded the day ahead of the announcement of the September 21st FOMC monetary policy outcome. The second US presidential debate is scheduled for October 9th.
GREECE: In its Staff Concluding Statement of the 2016 Article IV Mission on Greece the IMF is reiterating its position for further debt relief in order to restore debt sustainability, a view that stumbles to the opposition of Germany, which insists on sticking to the May 9 Eurogroup agreement and requests that the IMF clarify the role it will assume in the third programme for Greece before the end of the year. With regard to the completion of the 15 prior actions for the release of the €2.8bn sub-tranche, a multi –bill containing the relevant legislative actions is scheduled for vote by the Hellenic Parliament today, while, according to press reports, another bill regarding the Hellenic Civil Aviation Authority (HCAA) is scheduled to be brought to Parliament by the end of the week.
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Daily Overview September 27 2016
