Daily Overview of Global Markets & the SEE Region (Thursday, July 20, 2017)

Banking, Company Profiles, Finance, Markets, Person Profiles, Reports, Shipfinance, Statistics, Stock Markets — By on July 20, 2017 at 11:17 AM

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Market focus today is on the ECB monetary policy meeting where the Central Bank is widely expected to stay put on its monetary policy. At the post-meeting press conference, President Mario Draghi is not expected to attempt to alter market expectations about a tapering announcement in September or October at the latest. However, his tone is likely to err on the dovish side of expectations to avoid triggering –as was the case on June 27th when he spoke at the ECB Forum in Sintra – a renewed tightening of financial conditions.

GREECE: The Executive Board of the IMF is expected to convene later today to discuss the Fund’s potential financial arrangement for Greece. The updated IMF Debt Sustainability Analysis (DSA) is also expected to be released today but is highly unlikely to have changed substantially compared to the last one (February 2017).

SOUTH EASTERN EUROPE

CESEE MARKETS: Emerging market assets trod water earlier on Thursday amid caution ahead of the ECB monetary policy meeting which concludes later on the day.

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