GLOBAL & REGIONAL DAILY (Friday 4 December, 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
December 4 2020
Global Markets
Oil prices extended recent gains, with Brent crude rising to an eight-month high close to $50/bbl earlier today, after OPEC+ agreed y-day to ease oil output cuts, adding 500k barrels a day to the market in January. Ahead of today’s US non-farm payrolls, the EUR-USD maintained an upward trend, standing close to y-day’s 2 ½-year peak of 1.2175.
Greece
On the pandemic front, the number of new Covid-19 cases and patients in ICUs calls for an extension of the lockdown until at least 14 December. On the economic data front, ELSTAT is expected to announce today the GDP for the 3rd quarter of 2020 (provisional data).
CESEE
Bulgaria’s economy will continue its recovery trend in the next two quarters, in case there is no further increase in the number of COVID-19 cases and tightening of the anti-epidemic measures. Still, real GDP will not be able to return to its pre-pandemic level even under the optimistic scenario sooner than Q2 2021.
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