Daily Overview of Global Markets & the SEE Region (Friday, May 13, 2016)

Banking, Company Profiles, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on May 13, 2016 at 10:43 AM
Dr. Platon Monokroussos,  Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: The USD was firmer in European trade supported by comments from Boston Fed President Rosengren and Cleveland Fed President Mester who suggested that the Central Bank remains on track to push interest rates higher this year.  Focus today is on US retail sales for April which are widely expected to have rebounded after having been soft over the last couple of months.

GREECE: The USD was firmer in European trade supported by comments from Boston Fed President Rosengren and Cleveland Fed President Mester who suggested that the Central Bank remains on track to push interest rates higher this year.  Focus today is on US retail sales for April which are widely expected to have rebounded after having been soft over the last couple of months.

SOUTH EASTERN EUROPE

SERBIA: The Consumer Price index rose by 0.4% both on a monthly and on an annual basis in April, retreating further below the Central Bank target and supporting the case for one more rate cut at the next MPC meeting in May.

CESEE MARKETS: The majority of emerging stock markets lost further ground earlier on Friday, trailing losses in major global bourses on global growth concerns, while a stronger US dollar also weighed. Elsewhere,  CESEE bourses and regional currencies were little changed in early European trade. Focus for the remainder of the day lies primarily on the upcoming Moody’s review of Poland’s sovereign credit ratings.

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Daily Overview May 13 2016

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