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GLOBAL & REGIONAL DAILY (Thursday 2 July 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
July 2 2020
Global Markets
Manufacturing June PMIs from both sides of the Atlantic surprised positively yesterday, reinforcing market optimism that the global economy remains on a path of continued recovery after hitting bottom in April. Global equity markets opened in a positive tone today, while the USD lost some ground ahead of today’s US June non-farm payrolls survey.
Greece
The 7th review in the context of the Enhanced Surveillance framework begins on Monday, and one of the sticky points appears to be the backlog of pension claims. In other news, the IHS Markit Manufacturing PMI eased to 49.4 in June 2020 from 41.1 in May and 29.5 in April.
CESEE
Serbia: Following the easing of containment measures, Serbia is confronted with a surge in infections as new cases rose by 272 in the last 24 hours. On the economic data front, retail sales increased by 4.7%YoY and 28.7%MoM in May, reversing partially April’s decline of -18.6%YoY and -27.3%MoM.
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