Home Banking Daily Overview of Global Markets & the SEE Region (Thursday, May 18, 2017)

Daily Overview of Global Markets & the SEE Region (Thursday, May 18, 2017)

by admin

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



GLOBAL MARKETS: The USD remained under pressure in European trade and US Treasuries retained a firm tone while major European bourses were weaker in early trade, taking their cue from Wall Street’s poor performance overnight. Market moves were mostly driven by international reports suggesting that US President Donald Trump tried to interfere with a federal investigation, increasing doubts over his ability to push through major campaign promises but also raising talks over the risk of his impeachment should that allegation be verified. EUR/USD marked a fresh six-month peak while JPY was among the main outperformers favored by its safe-haven appeal. GBP failed to capitalize on USD’s persisting weakness following UK employment-related data, which revealed that real wage growth turned negative for the first time in the last 2 ½ years.

GREECE: Speaking to reporters yesterday, the Greek PM Alexis Tsipras appeared confident that a global deal on the 2nd review including an agreement on the debt relief framework will be reached at the May 22nd Eurogroup. Nevertheless, according to a European official, there is a 50% probability for an agreement at that Eurogroup, while an extension of talks up to mid-July cannot be ruled out. The remaining steps for the conclusion of the global deal are understood to be the following: 1) implementation of the measures agreed, a large bulk of which is expected to be voted in Parliament tonight, 2) compilation of the compliance report by the institutions which will attest that the prior actions agreed have indeed been completed, and 3) the debt sustainability analysis.

Viewers can log herebelow and read the full report:Daily Overview May 18 2017

You may also like

Leave a Comment