Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The USD was little changed on the day but still below recent multi-month highs as investors turned more cautious on news that two former Donald Trump aides were charged with tax fraud and money laundering by federal investigators who are probing Russian interference in the 2016 US election. Market talk that US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell, who is viewed as more dovish than other candidates, for the post of the next head of the Fed, also did not favor the US currency. Elsewhere, US and Eurozone government bond yields moved lower while in the EMU periphery, Italy and Spain were among the main outperformers. Looking at today’s macro data releases, focus is on the flash estimate for the euro area’s October inflation as well as the preliminary euro area Q3 GDP estimate.
GREECE: According to the Greek Tourism Confederation (SETE), international arrivals at Greece’s main airports in September 2017 increased by +8.6%. According to the European Commission Business and Consumer Survey Results the Economic Sentiment Indicator for October 2017 dropped after four consecutive monthly increases to 98.3 from 100.6 in September.
SOUTH EASTERN EUROPE
ROMANIA: The ruling PSD party leader, Mr. Dragnea, announced that next year’s budget plan would be presented to the Parliament in November, and it could be approved at the end of this month or in early-December.
Viewers can log herebelow and read the full report: Daily Overview October 31 2017
