MACRO ECONOMIC NEWS

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Macro Economic News 17 Apr 2018

 

Donald Trump accused China and Russia of devaluing their currencies, breaking from his own administration’s view that no major trading partners are currency manipulators. China and Russia are playing what he called a "currency devaluation game" at a time when the U.S. Federal Reserve is raising interest rates. China’s holdings of Treasuries rose by the most in six months, underscoring the attractiveness of U.S. assets even amid trade tensions between the world’s two largest economies.

 

FINANCIAL TIMES

[I]  UK and US move on Chinese group citing national security

[I]  Comey versus Trump casts shadow over crucial electoral battle

[I]  Is trouble looming for US dividend aristocrats?

[I]  China’s Xi Jinping says he is opposed to life-long rule

[I]  Putin support for Assad paints Russia into a dangerous corner

[I]  Angela Merkel’s party slams EU ‘monetary fund’ plan in blow to Macron

[I]  EU to give judges power to seize terror suspect emails and texts

[I]  Supreme Court to rule on online retailers’ sales tax exemption

[I]  EU members fail to agree fresh Iran sanctions before May deadline

[I]  Boom time for China’s billion-dollar start-ups

 

REUTERS

[I]  China first-quarter GDP grows 6.8 percent year-on-year, slightly more than expected

[I]  China March industrial output up 6.0 percent, misses expectations, January-March...

[I]  China first-quarter property investment rises 10.4 percent year-on-year

[I]  Oil prices rise amid risk of supply disruptions

[I]  Australia inflation to stay low for some time, limit case for rate rise - RBA

[I]  NAFTA meeting on tap; Mexico doesn't want to be used to elude U.S. tariffs

[I]  IMF forecast strong near-term economic growth for New Zealand

[I]  British pound hits post-Brexit referendum high

[I]  EU demands compensation for U.S. steel tariffs at WTO

[I]  Automobiles power U.S. retail sales in March

 

BLOOMBERG 

[I]  Australia’s Economy Looks Likely to Grow Faster Than Its Speed Limit, RBA Says

[I]  Shakeout in Japan Job Market Sets Big Caps Up to Beat Small Guys

[I]  Bank of England Seen Hiking Rates Just Once in 2018

[I]  British Businesses Aren't Backing a Second Brexit Vote

[I]  Banker in Iran Sanctions Case Says Life Term Isn't Justified

[I]  China May Be Set for Rare Property Defaults, Neuberger Says

[I]  Trump Blasts China, Russia for Devaluing Currencies

[I]  Hong Kong Plows $1.7 Billion Into Defending Currency to Little Effect

[I]  U.S. and Russia Enter a New Era of Animosity

[I]  Japan Wonders If Abe Can Bounce Back Again After Scandals Pile Up

[I]  Sorry Populists, Australia Says Mass Immigration Is a Good Thing

[I]  Inflation Goes Astray in New Zealand

[I]  Australian Businesses in China Are Brushing Aside ‘Tense’ Relations

[I]  China, India Extend Grace Periods for Mozambique Debt Repayments

 

WALL STREET JOURNAL

[I]  Consumers Shy From Spending, Despite Tax Cuts

[I]  Fed Officials Dispel Specter of Deflation

[I]  Facing Historic Labor Shortages, Companies Snap Up Teenagers

[I]  Global Economy Week Ahead: China GDP, U.S. Retail Sales, Eurozone Confidence

[I]  Trump to Nominate Clarida, Bowman to Fed Board

[I]  Trump Talks TPP, but Trade Partners Say, Not So Fast

[I]  Real Time Economics: Fed No Longer Worries About Deflation | Currency Market Jitters | Idaho’s Growing Pains

[I]  Banks Forecast Gains for Crude Oil

 

BUSINESS LINE

[I]  Up & down: Even as pulses exports rise 18% in April-February period...

[I]  ...apparel exports may slip into negative zone

[I]  ‘Government is over-feeding PSU shipyards’

[I]  Wood-based industries welcome National Forest Policy draft

[I]  Commonwealth offers a counterpoint to rising protectionism, says Theresa May

[I]  WPI inflation falls to 2.47% in March on cheaper food prices

[I]  How India can become a $5 trillion economy

[I]  Infra, logistic firms take to blockchain to automate processes

[I]  Expert sees early onset of monsoon this year

[I]  PSU insurers’ merger will depend on general election timing

[I]  Inclusion in US’ currency manipulator watch-list unlikely to impact rupee

[I]  As RBI tightens norms, NBFCs see bad loans rising

 

ECONOMIC TIMES

[I]  If Fed moves unlock billions at banks, here's who might win most

[I]  Indian manufacturing firms look to woo top-level expats to put them on the global map

[I]  India ranks 10th on Commonwealth innovation index

[I]  Good news for farm sector: IMD predicts normal monsoon rainfall in 2018

[I]  Why chances of India being named a currency manipulator are slim

[I]  India starts antidumping probe on chemical from Brazil, Indonesia, Thailand

[I]  World Bank forecasts 7.3 pc growth for India this year

[I]  E-vehicles charging stations need no licence

[I]  WiFi initiative to help create more jobs, says RS Sharma

 

BUSINESS STANDARD

[I]  Monsoon 2018 forecast: Relief for farmers as IMD predicts normal rainfall

[I]  Bank frauds taking the sheen off India's gems and jewellery exports

[I]  Road sector revival: Projects being awarded at lower than reserve prices

[I]  Employment to be main criterion for coastal economic zones

[I]  India must grow at 18% to ensure jobs to growing workforce: World Bank

[I]  A year later, the Insolvency and Bankruptcy Code is still work-in-progress

[I]  Loan sale-down activity by banks, NBFCs shrinks by 7% in FY18

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10546;  USDINR DGCX: 65.5125;  DJIA Mini: 24612;  FTSE 100 Fut: 7145;  NIKKEI 225 Fut: 21829;  EUR-USD: 1.2380; Crude Oil (WTI): 66.51;  Gold (Spot): 1348

Best Regards, ARBIND

17 Apr 2018