MACRO ECONOMIC NEWS

THIS MORNING, EVERYTHING AROUND IS LOVING AND HARMONIOUS

Macro Economic News 10 May 2018

 

President Donald Trump has turned his attention to securing a peace agreement with North Korea, which just released three detained Americans. Meanwhile, the European Union is desperately trying to hold the Iran nuclear accord together. Trump's decision to exit the pact left companies—which originally rushed to do business with Iran—scrambling to get out. Chinese PPI and CPI are due in the Asia morning after a report showed wholesale prices in the U.S. rose less than forecast. U.S. CPI is due Thursday. New Zealand kicked off Asia central bank action by holding rates at a record low, with Malaysia and the Philippines due later Thursday. In Europe, the BOE is expected to hold rates steady.

 

FINANCIAL TIMES

[I]  EU to seek exemptions from new US sanctions on Iran

[I]  Argentines shocked by IMF loan request

[I]  Italy’s populist parties given 24 hours to strike alliance

[I]  US turns economic might on its allies over Iran

[I]  Erdogan pledges to curb inflation and halt lira slide

[I]  China poised to profit as Europe companies feel Iran pain

[I]  Iran wants to make nuclear deal work despite show of defiance

[I]  Germany’s boom to create extra €63bn in tax revenues

[I]  China, Japan and South Korea draw closer on trade

 

REUTERS

[I]  Europeans work to save Iran deal, and business, after Trump pulls out

[I]  China April producer inflation picks up for first time in seven months

[I]  IMF deal would secure Argentina funds through Macri's term: finance minister

[I]  BOJ's April meeting laid groundwork for future stimulus exit: summary

[I]  Dollar resurgence to be short-lived, euro still favored: Reuters poll

[I]  Risk of higher oil prices, says Goldman Sachs

[I]  Buyers seek U.S. waivers to buy Iranian oil

[I]  IMF not very concerned about FX pressure in Indonesia, Philippines

[I]  India's April gold imports plunge 39 percent on weak demand: GFMS 

[I]  U.S. producer prices rise slightly on weak hotel costs

 

BLOOMBERG 

[I]  Stuck Between Trump and Iran, EU Lacks Plan for Nuclear Deal

[I]  Mahathir Wins in Historic Malaysia Power Shift

[I]  Iran Decision Risks Diluting Trump's Presidential Power

[I]  Here's What Wall Street Is Saying About Walmart's Flipkart Deal

[I]  Argentina Seeks 'Stand-By' Agreement With IMF

[I]  Philippine GDP Growth Exceeds 6% on Government Spending Boost

[I]  China Factory Inflation Pauses Slide as Consumer Prices Ease

[I]  U.K. House-Price Gauge Drops to 5 1/2-Year Low as London Slumps

[I]  Saudi Arabia's Safety-Net Spending Wipes Out New Tax Gains

 

WALL STREET JOURNAL

[I]  Limbo Lingers for the European Union

[I]  In a Dollarized World, Rising Dollar Spells Pain

[I]  U.S. Producer Prices Edge Up 0.1%

[I]  Mexican Inflation Hit the Brakes in April

[I]  Why It’s a Good Time to Look for a Job

[I]  Trump Withdraws U.S. From ‘Defective’ Iran Nuclear Deal

[I]  Powell Warns Against Overstating Impact of Fed Policy on Global Financial Conditions

[I]  Real Time Economics: Any Sign of Inflation? | Oil Prices Rise as U.S. Drops Iran Deal | Americans to Employers: I Quit

 

BUSINESS LINE

[I]  India doesn’t see major fallout from US exiting Iran N-deal

[I]  Road Ministry moves GST Council for lower rate on replacements for scrapped trucks

[I]  Fraudulent acts: Audit firms will now have to pay for their partners’ sins

[I]  Shopping spree done, Big Three set to dominate India’s e-comm space

[I]  Challenges ahead, but Indian companies may get better deals: Energy experts

[I]  IRDAI relaxes norms for empanelled actuaries

 

ECONOMIC TIMES

[I]  Oil at $80 in medium term? Iran chaos suggests so

[I]  Bond yields jump after RBI revises list of open market ops purchase securities

[I]  IMF expects India to grow at 7.4 per cent in FY19

[I]  Working with ministries to develop plans for 12 champion services sector: Commerce Secretary Rita Teaotia

[I]  Govt considering 100 per cent FDI in insurance intermediaries

[I]  Social Security Code provides for linking fine with inflation

[I]  CAG: Divestment panel indulged in anomalies

[I]  GST digital discounts may cost Rs 15,000 crore

[I]  DoT seeks details of WiFi calling services from Trai

[I]  Ordering food on train will pinch you a bit more, all thanks to a new tax definition

 

BUSINESS STANDARD

[I]  Government likely to withdraw tax notice on free banking services

[I]  Mind the generation gap: Why brands score low on customer experience

[I]  Commercial vehicle makers expect to surpass 20% growth of 2017-18

[I]  Land continues to remain a major concern for infra, energy sector in India

[I]  Maintain tightening bias due to increased inflation pressure: IMF to RBI

[I]  Govt approves green licence plates for electric vehicles

 

MARKETS (8:00 am)       

[I]  SGX NIFTY Fut: 10775;  USDINR DGCX: 67.5075;  DJIA Mini: 24550;  FTSE 100 Fut: 7656;  NIKKEI 225 Fut: 22446;  EUR-USD: 1.1863; Crude Oil (WTI): 71.68;  Gold (Spot): 1313          

Best Regards, ARBIND

10 May 2018