Daily Overview of Global Markets & the SEE Region (Friday, 17 May, 2019)

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Daily Overview of Global Markets & the SEE Region (Friday, 17 May, 2019)



GLOBAL MARKETS:  Market uncertainty around the US-China trade dispute prevails, as the latest developments make it hard to expect a trade deal any time soon. Against this background, core government bonds retained a positive tone. In FX markets, the USD firmed, with the DXY index recording a fresh two-week intraday high of 97.878 earlier today following a flurry of positive US data releases yesterday. Elsewhere, the GBP retained a weak tone, as pressure on UK PM Theresa May to resign over her failure to deliver Brexit is mounting.

GREECE: At yesterday’s Eurogroup, Greece informed the Euro area Finance Ministers about the recently announced and legislated measures and it was decided that a more thorough discussion will take place at the June meeting taking also into account the 3rd EPPS report, which the EC will have released by then. ESM Managing Director Klaus Regling expressed the view that preliminary analysis of the announced measures shows that there may be a deviation from the agreed fiscal targets for 2019 and 2020.


BULGARIA: According to the flash estimate, real GDP growth accelerated to 1.1% QoQ/3.5% YoY in Q1-2019 up from 0.8% QoQ/3.2% YoY in Q4-2018.

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