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GLOBAL & REGIONAL DAILY (Monday, 25 May 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
May 25, 2020
Global Markets
Focus this week is on the European Commission’s draft proposal on the new EU budget and the Recovery Fund, scheduled for Wednesday. Meanwhile, favored by rising US/China tensions, the USD retained a positive tone, with the EUR/USD hitting a multi-session low of 1.0870 earlier today. US markets are closed today for Memorial Day.
Greece
Based on provisional data by the Bank of Greece, the balance of travel services in Mar-20 showed an estimated surplus of €32 mn, against a surplus of €68 mn in Mar-19. The evolution of the COVID-19 pandemic remains under control in Greece with low daily new cases – only two recorded yesterday – while total cases have reached 2,878.
CESEE
Cyprus: The Minister of Finance claimed that Cyprus will tap the ESM’s Pandemic Crisis Support fund to cover its increased healthcare expenditures due to the Covid19 outbreak. The Residential Property Price Index expanded by 0.7% QoQ/2.8% YoY in Q3-2019.
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