Daily Overview of Global Markets & the SEE Region (Monday, March 20, 2017)Banking, Company Profiles, Finance, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By admin on March 20, 2017 at 10:19 AM
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The USD remained under pressure across the board as the less-hawkish-than expected tone of the FOMC monetary policy statement released after the conclusion of last week’s meeting continued to weigh. Against a broadly weaker US currency, the EUR was standing close to a six-week peak amid increased expectations for higher ECB interest rates later this year following the less dovish-than-expected tone President Mario Draghi adopted at the press conference after the conclusion of the March 9th monetary policy meeting. This week eight Fed officials are scheduled to speak, including William Dudley (Tuesday) and Chair Janet Yellen (Friday).
GREECE: The Eurogroup that is scheduled to convene today (15:00 CET) will assess the progress made in the negotiations between Greece and its official creditors in the context of the 2nd programme review and may also decide when the institutions mission heads are to return to Athens to resume talks. According to press reports, however, the institutions are reluctant to return unless there is an explicit commitment by the Greek side that there will be an agreement on all open items.
SOUTH EASTERN EUROPE
BULGARIA: The SOFIX index touched an 8.5 year high at 634.98 points.
ROMANIA: The EUR/RON continued to move higher against regional trends, touching a one year high around 4.5670 on Friday.
SERBIA: EUR/RSD remained bound within the 123.80-124 range over the past week.
CYPRUS: Standard and Poor’s upgraded the sovereign rating of Cyprus by one notch (from BB to BB+) with a stable outlook on Friday.
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