GLOBAL & REGIONAL DAILY (Friday 6 November, 2020)
GLOBAL & REGIONAL DAILY
November 6 2020
As the counting of the votes continues, the result of the US presidential elections remains too close to call, but Joe Biden seems to have an advantage over Donald Trump, as he is just 17 electoral votes away from the 270 needed for winning. In FX markets, the USD remained under pressure ahead of today’s US October non-farm payrolls survey, on market perception of reduced global policy uncertainty under Joe Biden.
According to the Minister of Finance Christos Staikouras, the new package of measures to curb the economic consequences of the nationwide lockdown that starts at 6am on Saturday, has a total cost of €3.3bn, while cash reserves stand at €37.3bn.
In the European Commission’s Autumn Forecast released yesterday, the GDP contraction forecasts for 2020 have been revised to the upwards for the most part of the CESEE region while all economies are expected to rebound in 2021 at varying speed of recovery across the region.
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