WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The USD was modesty weaker in European trade on Thursday on profit taking ahead of a flurry of US data later in the day including the 3rd estimate of Q3 GDP, initial jobless claims, durable goods orders and personal income & spending for November. Elsewhere, major government bond markets were range-bound in European trade while European bourses were mixed in early trade. Oil prices were modestly lower on news that Libya is likely to boost production over the next few months.
GREEECE: Deliberations between Greek authorities and EU creditors over the activation of the short-term debt relief measures agreed on the December 5th 2016 Eurogroup are still ongoing. The Greek government is reportedly awaiting a detailed list of the clarifications required by the institutions before it submits a written document in the coming days committing to, inter alia, any officially confirmed annual budget over performance in the coming years will be used, in agreement with the institutions, for the implementation of the Guaranteed Minimum Income programme and the payment of State arrears to the private sector.
SOUTH EASTERN EUROPE
CESEE MARKETS: The majority of Emerging Market assets stood on the back foot earlier on Thursday as trade volumes remained thin in view of the Christmas holidays, while caution prevailed ahead of key US data due for release later on the day.
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