Home Banking Daily Overview of Global Markets & the SEE Region (Wednesday, August 02, 2017)

Daily Overview of Global Markets & the SEE Region (Wednesday, August 02, 2017)

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Major Asian technology stocks surged to 17-year highs on Wednesday following better-than-expected reported earnings from Apple. In FX markets, the DXY dollar index near yesterday’s 15-month low of 92.777, while the EUR/USD extended its gains to reach a fresh 2.5-year high of 1.1868. In the rates market, government bond yields fell across all regions and maturities yesterday, with the German 2-yr Bund yield trading at a seven-week low of -0.70% following strong auction demand. US Treasury yields followed suit, partly driven by weak US auto sales reported by car makers yesterday. In commodities, Brent oil fell roughly 1.8% yesterday following 6 consecutive days of gains, partly due to a report by the American Petroleum Institute that showed rising US inventories, and a Reuters survey which revealed higher OPEC production in July amid rising supply from Libya.

GREECE: The Markit PMI manufacturing index in July 2017 came in at 50.5 index units (i.u.), unchanged from June 2017, yet above the 50.0 i.u. no-change threshold for the second month in a row.

SOUTH EASTERN EUROPE

BULGARIA: The consolidated government surplus fell sharply to BGN2bn in the first seven months of the year.

Viewers can log herebelow and read the full report: Daily Overview August 2 2017

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