Daily Overview of Global Markets & the SEE Region (Wednesday, July 26, 2017)

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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Wall Street rose modestly overnight following stronger-than-expected corporate earnings and positive US data releases. Mirroring the positive momentum in Wall Street overnight, major equity indices in Asia and Europe traded higher on Wednesday, supported by higher oil prices and supportive earnings releases. In FX markets, the US dollar regained some ground following yesterday’s positive macroeconomic data releases and ahead of the Fed’s monetary policy decision later today. Nonetheless, the EUR/USD was hovering around levels of 1.1624 at the time of writing, after yesterday’s two-year high of 1.1712, helped by a stronger-than-expected German business survey. Focus today centres on the FOMC meeting which concludes at 18:00 GMT.

SOUTH EASTERN EUROPE

CESEE MARKETS: The majority of emerging market assets firmed in European trade on Wednesday, ahead of the conclusion of the FOMC meeting later today.

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