Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Long-dated US Treasury yields moved lower in European trade on Tuesday amid persistently subdued inflation pressures and market uncertainty over whether the long-delayed US tax reform will be eventually enacted. In FX markets, the USD retained a firm tone supported by increased short-term Fed rate hike expectations, with the DXY index standing 0.4% firmer on the day and approaching last week’s 3 ½ month intraday peak of 95.150. Looking at today’s calendar, focus is on the presentation of OPEC’s World Oil Outlook at 14:30 CET while EC President Mario Draghi will speak at the ECB forum on Banking Supervision in Frankfurt at 10:00CET.
GREECE: The President of the Eurogroup Jeroen Dijsselbloem in a press conference after the Eurogroup said that the signals from the progress made towards the conclusion of the third review are positive, but there is still a lot of work to be done, especially with regards to the implementation of reforms.
SOUTH EASTERN EUROPE
CESEE MARKETS: Emerging market assets were mixed earlier on Tuesday. Looking into the rest of the week in CESEE, Central Bank meetings in Romania and Poland take centre stage. Meanwhile, inflation data releases for October, as well as sovereign debt rating reviews by Moody’s on Serbia, Fitch on Hungary and S&P’s on Ukraine are also on the forefront this week.
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