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GLOBAL & REGIONAL DAILY (Friday 3, April 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
April 3, 2020
Global Markets
Oil prices were lower today, giving back part of yesterday’s hefty gains following US President Donald Trump’s comments that he expects Saudi Arabia and Russia to reach a deal and OPEC+ to cut oil output by around 10mb/d. In FX markets, the USD retained a firm tone, with the DXY index poised for weekly gains to the tune of 2%, ahead of today’s US March non-farm payrolls.
Greece
The Ministry of Finance suspended temporarily the revision of the objective values of real estate properties and the consequent adjustment of property tax rates. Meanwhile, the government is reportedly expected to request by the institutions a six-month extension of the existing framework for the protection of first residence.
CESEE
Turkey: According to its Global Economic Outlook (GEO) update, released yesterday, Fitch Ratings ex-pects GDP to grow by 0.8% in 2020, which is 2.9ppts lower compared to its March GEO. The economic growth cut is in line with its forecast for global recession due to the Covid-19 pandemic.
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