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GLOBAL & REGIONAL DAILY (Wednesday 22 July 2020)

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GLOBAL & REGIONAL DAILY (Wednesday 22 July 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

July 22 2020

Global Markets

Risk-on sentiment turned into concern about rising coronavirus cases and political disagreement over an additional round of US fiscal stimulus. The EUR/USD skyrocketed to its highest level of 1.1547 since January 2019 following the EU Recovery Fund agreement.

Greece

According to the BoG, in the period Jan-May 2020, the current account deficit reached €5.6bn, up by €706mn YoY, as the deterioration in the services balance and the secondary income account more than offset the improvement in the balance of goods and the primary income account. 

CESEE

Bulgaria: PM Boyko Borissov announced that Bulgaria will receive EUR29bn of EU funds from the EU’s Next Generation Fund and the EU budget for 2021-2027. On the politics front, the parliament rejected the no-confidence vote against the government.

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