Home Banking Daily Overview of Global Markets & the SEE Region (Tuesday, February 07, 2017)

Daily Overview of Global Markets & the SEE Region (Tuesday, February 07, 2017)

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Dr. Platon Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,



GLOBAL MARKETS: Taking their lead from the negative tone in Wall Street overnight, the majority of European equity markets were lower in early trade on Tuesday as investors are still awaiting details over US President Donald Trump’s economic policies. Market anxiety ahead of upcoming presidential elections in a number of core euro area economies, including France, also had an impact. In FX markets, the JPY was among the main outperformers favored by its safe-haven appeal. Elsewhere, oil prices inched higher while gold gave back some of recent gains.

GREECE: The IMF’s Executive Board concluded the Article IV consultation with Greece. Debt is deemed unsustainable and there is divergence of opinion among the board members over the primary surplus for 2018 and beyond.


CESEE MARKETS: Most emerging market assets were on the back foot earlier on Tuesday on deteriorating risk appetite. In other news, the Central Bank of Romania kept the key policy rate at the current historic low levels of 1.75% at its monetary policy meeting earlier today, in line with market expectations.

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