GLOBAL & REGIONAL DAILY (Monday 7 June, 2021)
GLOBAL & REGIONAL DAILY
June 7 2021
Government bonds on both sides of the Atlantic retained most of Friday’s post-payrolls gains in early European trade today, while the USD remained broadly sluggish. Looking at this week’s calendar, all eyes are on the US’s May CPI release and the ECB meeting, both due on Thursday.
The data released by ELSTAT for Q1-2021 real GDP, surprised to the upside. Despite the tightening of the restrictive measures, quarterly real GDP growth accelerated to 4.4% QoQ from an upwards revised 3.4% QoQ in Q4-2020.
SERBIA: The EUR/RSD held steady in the past week, remaining anchored at 117.55 amid extremely low trading volumes. PPI inflation accelerated to +1.3% MoM/+9.9% YoY in May from +0.9% MoM/+7.2% YoY in the previous month.
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