Daily Overview of Global Markets & the SEE Region (Tuesday, May 09, 2017)

Banking, Company Profiles, Finance, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on May 9, 2017 at 11:04 AM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Major European bourses were trading in positive territory in early trade amid easing concerns over European politics following pro-European Emmanuel Macron’s victory in the French presidential elections run-off on Sunday. Yet, gains were limited on lingering uncertainty over the extent to which the new French President will be able to implement his programme, a development that will largely depend on the outcome of the parliamentary elections that take place on 11 and 18 June. In FX markets, the EUR/USD retreated from Monday’s six-week peak on the back of investor appetite for some profit taking. Following the market friendly outcome of the French Presidential elections and amid expectations for an improved euro area Q2 real GDP growth rate, market focus now turns on the likelihood of a shift by the ECB to a less accommodative monetary policy. The ECB holds its next monetary policy meeting on June 8 and in the meantime investors will pay particular attention to public speeches by Governing Council members.

GREECE: The draft Supplemental Memorandum of Understanding that has leaked to the press describes in detail the prior actions that Greece needs to implement in the context of the 2nd programme review. Among others, the document describes the package of prior-actions that will be pre-legislated and will take effect in 2019 and 2020. The aforementioned package along with all the other prior actions in the context of the 2nd programme review, are reportedly scheduled to be voted in the Hellenic Parliament on May 18th based on the updated timetable.

SOUTH EASTERN EUROPE

CESEE MARKETS: Emerging market assets came under pressure earlier on Tuesday on profit taking and against a stronger US dollar.

Viewers can log herebelow and read the full report: Daily Overview May 9 2017

Tags: , ,

Leave a Reply

IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

What is 15 + 12 ?
Please leave these two fields as-is:

Trackbacks

Leave a Trackback