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GLOBAL & REGIONAL DAILY (Monday 7 September, 2020)

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GLOBAL & REGIONAL DAILY (Monday 7 September, 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

September 7 2020

Global Markets

In FX markets, the EUR/USD rebounded from Friday’s post-US payrolls lows, while the GBP/USD weakened on market anxiety ahead of the new round of EU/UK Brexit talks. Meanwhile, oil prices extended recent losses following Saudi Arabia’s sharp price cuts for oil sales to Asia. Focus this week is on the ECB monetary policy meeting on Thursday.

Greece

According to data available to the Ministry of Finance, losses in the tourism and catering sectors were reduced in August compared to the previous two months. Specifically, revenues from foreign tourism in Aug-20 amounted to 30%-35% of those in Aug-19, improved compared to Jul-20, when they had reached 20% of the revenues in Jul-19.

CESEE

SERBIA: The EUR/RSD remained bound within a tight range of 117.50-117.65 in the past week amid low trading volumes.

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