GLOBAL & REGIONAL DAILY (Monday 18 January, 2021)
GLOBAL & REGIONAL DAILY
January 18 2021
Favored by its safe-haven appeal, the USD firmed, pushing the EUR/USD to a near six-week low of 1.2063 earlier today following an unexpected drop in US retail sales for December and market concerns about the extent to which the $1.9bn stimulus package proposed by incoming US President Joe Biden will make it through Congress. US markets are closed today for Martin Luther King Jr. Day.
According to ELSTAT, the seasonally adjusted unemployment rate in Oct-20 was 16.7%, the same as in Oct-19, and the upward revised respective figure for Sep-20. The retail sector reopens today but secondary education still operates via distance-learning. Today’s Eurogroup will discuss the preparation of the national Recovery and Resilience Plans.
SERBIA: The EUR/RSD remained little changed during the past week, hovering within the 10-month range of 117.50-117.65
CYPRUS: Moody’s warned that the new lockdown measures in force until end-January will lead to increased challenges on bank asset quality
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