MACRO ECONOMIC NEWS

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Macro Economic News 02 May 2018

 

All major Asian bourses are open again, and investors will be weighing Apple earnings and a slew of PMI reports across the region. The dollar’s rally continued, with the greenback posting its biggest advance in more than a week as it breached a number of key resistance levels. A string of Asian PMI reports, led by China's Caixin, highlight the economic calendar. Korea, Taiwan, India and Malaysian PMIs are also due, as well as Indonesian CPI and New Zealand jobs. The U.S. session will bring the Treasury’s refunding announcement and the Federal Reserve’s rate decision.

 

FINANCIAL TIMES

[I]  EU vows not to give in to threats as Trump delays tariffs

[I]  Caymans and Bermuda face new corporate transparency laws

[I]  EU prepares to scratch seven-year budget itch

[I]  US groups plough tax cash into capex ahead of investors

[I]  Federal Reserve increases pace of balance-sheet reduction

[I]  Brussels seeks to increase seven-year EU budget to €1.25tn

 

REUTERS

[I]  India rejects U.S. request on medical device price caps

[I]  India infrastructure output growth slows to three-year low in 2017/18

[I]  Through a fog of data, air of Indian cities' looks dirtiest

[I]  EU proposes jump in crisis funding as U.S. steps back: document

[I]  U.S. trade chief says NAFTA approval on 'thin ice' without deal soon

[I]  Pushing to bury Iran deal, Israel says no one wants war with Tehran

[I]  Tax activists slam U.S. reporting exemption for defense firms

[I]  U.S. factory activity slows further, tariff concerns grow

[I]  UK factory growth sinks to 17-month low in April, further cuts chance of BoE hike in May

 

BLOOMBERG 

[I]  OPEC's Reason for Sticking With the Cuts Rests on Shaky Ground

[I]  New Zealand Banks Feel the Heat From Australia's Bad Behavior

[I]  India Will Work When Women Do

[I]  Banks Scrambling for Hong Kong Deposits Push Rates as High as 3%

[I]  EU Warns of More U.S. Uncertainty After Tariff Delay

[I]  Trump’s China Tariffs Risk Costing U.S. Jobs, Study Says

[I]  China-Wary Investors in ‘Wait-and-See’ Mode Amid Trade Tensions

[I]  U.K. Eyes Southeast Asia for Post-Brexit Trade Bursts

[I]  Aftermath of Japan's 'Golden Week' Could Squeeze Treasury Shorts

 

WALL STREET JOURNAL

[I]  U.S. Factory-Sector Activity Slowed in April

[I]  U.S. Tariff Delay Leaves EU Relieved but Dissatisfied

[I]  How the Economy Feels the Tariff Squeeze

[I]  EU-U.S. Trade Spat: What You Need to Know

[I]  How Bad Is the Labor Shortage? Cities Will Pay You to Move There

[I]  Inflation Hit Fed’s 2% Target in March

[I]  Canadian Economy Grew 0.4% in February

[I]  Fed Rate Plans Come Under Pressure

[I]  Growing Concern: Foreign Investors Lose Some Hunger for U.S. Debt

[I]  U.S. Consumer Spending Bounced Back in March

[I]  U.S. Tax Revamp Weakens Case for Companies to Shift Profit Overseas

 

BUSINESS LINE

[I]  The tech is ready; geopolitics is hindering a global 5G rollout

[I]  RBI paper points to sharp fall in rural wages since 2014

[I]  Renewables overpower conventional energy

[I]  Auto-makers start FY19 in top gear, post good growth

[I]  Railways allows investment in general-purpose wagons

[I]  Wheat purchases top 27 mt as arrivals pick up

[I]  Fintech players rely on AI to build credit scores for disbursal of loans

[I]  FPIs can invest in treasury bills issued by Central Govt: RBI

[I]  Advance estimates of growth numbers underestimate reality, says RBI study

 

ECONOMIC TIMES

[I]  RBI allows FPIs to invest 20% of their money in short term securities

[I]  Agriculture ministry in talks with Russia to speed up nod for export of dairy and meat units

[I]  Infrastructure sector growth slows in March to hit 3-month low of 4.1 per cent

[I]  Is the Indian economy out of the woods yet?

[I]  Holding companies for CPSEs may be set up to boost corporate governance

[I]  View: Govt should not let bankruptcy resolution be taken for a ride by crony capitalists

[I]  Parliamentary panel finalises report on Wage Code Bill, says Gangwar

[I]  GST revenue collection exceeds Rs 1 lakh crore in April, FM hopes it to rise further

 

BUSINESS STANDARD

[I]  Soon, you'll be able to make calls, surf the internet while flying

[I]  IT employees rue lesser pay hike even as companies show good growth

[I]  Riding on new launches, auto sales extend momentum in April

[I]  Draft telecom policy aims at $100 bn investment; 4 mn jobs on the cards

[I]  Most Indian millennials ready to switch jobs for a pay rise, says report

[I]  Centre promises law on DNA profiling; Supreme Court disposes of PIL

[I]  We see India's fiscal deficit, debt higher than peers in FY18: Fitch chief

 

 

MARKETS (7:00 am)       

[I]  SGX NIFTY Fut: 10750;  USDINR DGCX: 67.0125;  DJIA Mini: 24026;  FTSE 100 Fut: 7495;  NIKKEI 225 Fut: 22461;  EUR-USD: 1.1999; Crude Oil (WTI): 67.38;  Gold (Spot): 1309             

Best Regards, ARBIND

02 May 2018