MACRO ECONOMIC NEWS

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Macro Economic News 10 Apr 2018

Amidst significant back and forth between Xi and Trump about opening Chinese economy, trade and tariffs, China is evaluating potential impact of gradual Yuan depreciation to use the currency as a tool in trade negotiations with the U.S. Meanwhile, the Bank of Japan is considering how to normalize monetary policy, to meet the price-stability target, and eventually considering the process of policy normalization over next five years.

FINANCIAL TIMES

[I]  Russian markets hit by US sanctions and Syria

[I]  Election result alarms Hungary’s liberals

[I]  Turkish lira hits new low as Erdogan chases high growth

[I]  IMF raps politicians’ obsession with manufacturing jobs

[I]  Brazil could reap benefits of China-US trade tension

[I]  Fears grow that Italy heading for ‘Syriza’ moment

[I]  Buhari to seek second term as Nigeria’s president

[I]  Brexit brokers should embrace Belfast-style messiness

[I]  New UK pensions need regulation and realistic expectations

 

REUTERS

[I]  India likely to pay cane growers to help sugar mills

[I]  Australia business conditions ease from record in March: survey

[I]  Japan, China to hold high-level economic talks on April 16: Asahi

[I]  China's central bank says it will skip OMOs on Tuesday

[I]  China steps up attacks, blames the U.S. for trade frictions

[I]  'Russia in the doldrums?': new sanctions to weigh on recovery

 

BLOOMBERG 

[I]  ‘No Direct Confrontation’: Investors Voice Relief at Xi's Speech

[I]  Xi Vows to Ease Foreign Ownership in Financial Firms in 2018

[I]  Unfazed by Volatility, Goldman Stays Bullish on Asian Equities

[I]  Australia Affirms Ties With Vanuatu Amid Report of Chinese Base

[I]  Stability Rules for Investors in Malaysia

[I]  China's Xi Warns Against Returning to a 'Cold War Mentality'

[I]  China's Xi Pledges to Ease Investment Limits in 'New Phase of Opening Up'

[I]  Trump Hints at Deal on Trade With China; Xi Readies Response

[I]  China Is Studying Yuan Devaluation as a Tool in Trade Spat

[I]  Global Debt Jumped to Record $237 Trillion Last Year

[I]  Traders Doubt India Bond Rally Till Banks Show Up With Money

[I]  U.K. Consumer Spending Growth Cools to Weakest in Almost Two Years

 

WALL STREET JOURNAL

[I]  U.S. Manufacturers Worry Tariffs Could Undermine Recovery

[I]  Two More Rate Increases This Year, Fed’s Kaplan Says

[I]  Employment Trends Index Rose in March

[I]  Trump Acknowledges Farmers to Feel Impact From China Trade Actions

[I]  Bank of Japan Chief Warns of Trade-War Fallout

[I]  Europe’s Boom Reawakens the Ghost of Crisis Past: Debt

[I]  Nafta Partners Seek Deal by Early May, Mexico Says

[I]  Global Economy Week Ahead: Fed Minutes, China Trade Surplus and CPI

[I]  Real Time Economics: Investors Question Global Growth | No Fed Bailout for Markets | White House Softens Trade Rhetoric

 

BUSINESS LINE

[I]  Nabard frames self-healing norms for RRBs

[I]  Start-up investors must disclose deal valuations in tax returns

[I]  Submit draft Cauvery scheme by May 3: SC to Centre

[I]  Digital Privacy

[I]  Global IT spending may rise 6.2% to $3.7 trillion this year: Gartner

[I]  Rain in North affects wheat harvest; quality may take a hit, too

[I]  Now, NBFCs move RBI for deferment of Ind AS by one year

 

ECONOMIC TIMES

[I]  BOJ to consider normalisation in next 5 years

[I]  Rain & hailstorm may cast a cloud over Rabi crops

[I]  Area under cotton may decline by more than 10%: Cotton Association of India

[I]  India likely to pay cane growers to help sugar mills - sources

[I]  Cotton exports may touch 7 million bales

[I]  India exports more than 1.5 lakh bales of cotton to China since it's tariff war with US

[I]  PM Modi asks PSUs to come up with development roadmap in 100 days

[I]  NITI Aayog to chalk out strategies for improving road, rail and air connectivity in North-East

 

BUSINESS STANDARD

[I]  Forgotten wealth: Shares worth over Rs 13 bn lie unclaimed in top 100 firms

[I]  FY18 fiscal deficit to be below revised target as govt gets RBI, FCI boost

[I]  Cement industry may post flat 5% growth in FY19 despite pick-up in demand

[I]  China has the most valuable artificial intelligence start-up in the world

[I]  Sebi strengthens algo trading rules; co-location services

[I]  Natural gas may play a major role in India-Cyprus bilateral trade

[I]  IMF says moving jobs away from manufacturing can boost growth

[I]  The mystery of 'data capitalism'

[I]  Large bonuses at MFs after record year; staff may get 40-100% of annual pay

 

MARKETS (09:15 am)

[I]  SGX NIFTY Fut: 10432;  USDINR DGCX: 65.0075;  DJIA Mini: 24272;  FTSE 100 Fut: 7160;  NIKKEI 225 Fut: 21821;  EUR-USD: 1.2315; Crude Oil (WTI): 63.81;  Gold (Spot): 1334

Best Regards, ARBIND

10 Apr 2018