Daily Overview of Global Markets & the SEE Region (Thursday, June 16, 2016)

Banking, Company Profiles, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on June 16, 2016 at 11:48 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: Tracking the negative tone in Wall Street overnight, major Asian equity indices closed in the red on Thursday and European bourses broadly fell in morning trade while oil prices headed for the 6th consecutive session of negative performance. The FOMC left its fed funds rate unchanged at its two-day monetary policy meeting which concluded yesterday, adopting a rather cautious tone in the accompanying statement and the summary of economic projections. In FX markets, the US dollar came under pressure yesterday against its major currency peers after the Fed lowered its economic growth forecasts, but exacerbated its losses against the JPY earlier on Thursday following the Bank of Japan’s decision to keep its monetary policy unchanged and refrain from adopting further stimulus measures.

GREECE: The official conclusion of the 1st review of the 3rd Economic Adjustment Programme is expected later today at the Eurogroup in Luxemburg on the basis of the Euro Working Group’s (June 9-10) decisions. This will pave the way for the disbursement of the first sub-tranche of €7.5 bn by the ESM board that convenes tomorrow.

SOUTH EASTERN EUROPE

CESEE MARKETS: Most emerging market assets resumed their downtrend earlier on Thursday with the prior session’s respite proving short-lived.

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Daily Overview June 16 2016

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