HIGHLIGHTS
July 08 2022
Global Markets
Natural gas prices in Europe remain on an upward trend, with Dutch TFF futures trading around €181.00 a megawatt-hour earlier today, 23% higher so far this month and up by more than 100% compared to early June levels. Pressured by rising Eurozone growth concerns, the EUR continues to move lower, while investors await today’s US June non-farm payrolls report.
Greece
In its Quarterly Bulletin for the Greek Economy, the Foundation for Economic and Industrial Research (IOBE) revised upwards its baseline GDP growth projection to 3.5-4.0% for 2022, from 2.5-3.0% in April.
CESEE
In Cyprus, headline inflation, measured by national standards, accelerated to a new record high of 9.6%YoY in June, up from 9.1%YoY in May, bringing the H1-2022 performance to 7.8%YoY. In other news, the Central Banks of Serbia and Poland maintained their hawkish stance in yesterday’s MPC meetings.
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