Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Greece will set up development bank to finance infrastructure projects
Greece is on the verge of setting up a development bank to finance startups, infrastructure projects, small businesses as well as export oriented companies, as the government's economic policy council informed on Friday.
The Hellenic Development Bank is going to be a state lender, which will complement commercial financial institutions to assist to fund surge as well as regional projects.
The bank will look for the participation of other state entities with adequate funding capacity to participate in its share capital and also cooperate with international financial institutions.
Greece's economy, heavily affected by the country's debt crisis, is currently struggling to revive after a multi-year deep downtime.
Other European development banks have been providing funds for investments. For instance, the European Bank for Reconstruction and Development is going to pump funds in Greece until the end of 2020 and actually hopes by 2018 its funding will hit the 2.0 billion euro mark.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.