WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: During his inaugural address on Friday, US President Donald Trump reiterated his administration’s vision to pursue new trade policies designed to protect American jobs and the American industry. The lack of details on US fiscal, tax and trade policy changes weighed on the USD which moved lower across the board with the DXY index hitting a six-week low of 110.210 earlier today. Focus this week is on Italy’s Constitutional Court ruling on the constitutionality of the current electoral law for the lower house and the UK Supreme Court’s verdict on the UK government’s appeal against a High Court ruling late last year, both expectedon Tuesday.
GREECE: In view of the January 26th Eurogroup, the Greek government is expected to present to the institutions a proposal which will entail the extension of the contingent fiscal mechanism beyond 2018 and its “reinforcement” with additional measures. On the privatisations front, according to press reports the Greek government has appointed the Chairman and the C.E.O. of the new privatisation and investment fund, the operation of which constitutes a prior action in the context of the 2nd programme review. S&P reaffirmed its rating on Greece at B-/B with stable outlook.
SOUTH EASTERN EUROPE
CESEE MARKETS: Emerging market assets were mixed earlier on Monday as worries over US President Trump’s policies counterbalanced the positive impact of a weaker dollar.
Viewers can log herebelow and read the full report: Daily Overview January 23 2017