MACRO ECONOMIC NEWS

WISH THIS DAY BE THE START OF WE BECOMING THE LIGHT OF THE WORLD

Macro Economic News 23 May 2018

 

Markets were muted as Trump called into question the June summit with North Korea and expressed disappointment with Chinese trade talks. China hasn’t even abandoned all its decades-old birth-control policies. Italian and emerging-market risks have weighed on markets. The dollar fell with Treasuries, as the greenback’s correlation with yields threatens the currency’s five-week rally. The Turkish lira sank to yet another record low, and sterling strengthened on speculation there could be another U.K. election. Emerging-market shares advanced, halting a three-day decline. Wednesday in the U.S., the Fed will release minutes from its last meeting.

 

FINANCIAL TIMES

[I]  Market pressure on Erdogan increases as lira hits record low

[I]  US seeks greater scrutiny of China tech investment

[I]  Washington’s Iran ‘wish list’ lacks support from allies

[I]  Race casts haze over pot debate in New Jersey

[I]  Italy’s president balks at choice of eurosceptic finance minister

[I]  Berlin warns EU-US trade war will spread beyond steel

[I]  Vigilance needed on fallout from US-China trade pact, says France

[I]  German economists join forces against eurozone reform

[I]  Putin wins powers to impose tit-for-tat sanctions on west

[I]  UK seeks access to fund set aside in 1928 to pay off national debt

 

REUTERS

[I]  Bank of Korea seen keeping rates on hold at May meeting

[I]  Trump casts doubt on planned summit with North Korean leader

[I]  North Korea allows South Korea reporters to visit nuclear site, official says

[I]  Oil dips as market eyes possible easing of OPEC supply curbs

[I]  Japan to set interim fiscal target to balance budget in FY2025: Nikkei

[I]  Small banks trump Wall Street on Dodd-Frank rewrite

[I]  Gold rises, market eyes U.S.-China trade talks, Fed minutes

[I]  Saudi Arabia expands crackdown on women's rights activists

[I]  UK economy will bounce back from weak start to 2018: BoE's Carney

[I]  Reuters poll - Britain's Brexit divorce skills get thumbs down: economists

[I]  Oil dips after rally, OPEC may ease supply curbs

 

BLOOMBERG 

[I]  South Korea's Household Debt Grows at Slowest Pace in 3 Years

[I]  RBNZ Prepared to Print Money in Crisis, Assistant Governor Says

[I]  U.S. Oil Boom Is a Temptation That May Lure Ships Away From Iran

[I]  Cheapest Option for India to Boost Farmers Income: Pay Shortfall

[I]  Pimco's Kiesel Says Investors Should Increase Cash, Cut Credit

[I]  Unemployment Rate Is Lowest in Years—and Many Americans Are Just Hanging On

[I]  Here Are Six Forces David Zervos Says Will Hold Down U.S. Inflation

[I]  Korea's Tepid Job Growth Points to Central Bank Standing Pat

[I]  The Smart Money Bought What Retail Sold During Market Correction

[I]  The Next U.S. Recession Will Start in 2020, Survey Says

[I]  Why India's Offshore Clampdown Irks Global Markets

 

WALL STREET JOURNAL

[I]  In Trade War With U.S., China Gets the Upper Hand

[I]  What Happened in Steel Cities After Trump’s Tariff Plans? Weak Hiring

[I]  Split in Goods and Services Inflation Underscores Fed’s Challenge

[I]  An Immigration Debate Distinct From Economic Realities

[I]  IMF Begins Work on Bailout for Argentina, With U.S. Backing

[I]  Egypt Clamped Down on Political Opposition—Next Up Is the Economy

[I]  Real Time Economics: China Wins the First Round In Trade Fight

 

BUSINESS LINE

[I]  Govt did not stay OMCs’ hand on price hike: IndianOil chief

[I]  GST: Lack of item-wise tax collection data proves a hurdle

[I]  Five of the world’s top 10 solar parks are coming up in India, says report

[I]  Time to secure the IoT ecosystem

[I]  India to escape ‘very severe cyclonic storm’ brewing in South-West Arabian Sea: IMD

[I]  Re-exporters allowed to import pepper

 

ECONOMIC TIMES

[I]  Think petrol price hike was bad? There's more pain coming your way

[I]  Centre unveils model contract farming law

[I]  Consider refund of embedded taxes, says apparel export council

[I]  Quarterly premium likely for flagship insurance scheme

[I]  Task force to review I-T laws gets 3 months more till Aug to finalise report

[I]  Civil Aviation Ministry to urge Finance Ministry to bring ATF under GST

[I]  Country-wide intra-state e-way bill system mandatory from June 3

[I]  India calls on UN to provide transparent platform to raise international taxation issues

[I]  Fuel economy: Is duty cut coming?

 

BUSINESS STANDARD

[I]  Petrol, diesel excise duty may be cut Rs 2-4/litre; PMO to take final call

[I]  Cabinet may consider amendments to Insolvency & Bankruptcy Code today

[I]  Payments providers write to RBI to reconsider data storage directive

[I]  Banks in PCA lean on retail and recovery, seek relaxation in lending norms

[I]  'Expert services' see highest payroll additions: EPFO data

[I]  Govt proposes steep hike in compensation for flight delays to passengers

[I]  New EPFO data shows 15% formalisation rate

 

MARKETS (9:00 am)

[I]  SGX NIFTY Fut: 10518;  USDINR DGCX: 68.2925;  DJIA Mini: 24764;  FTSE 100 Fut: 7837;  NIKKEI 225 Fut: 22683;  EUR-USD: 1.1760; Crude Oil (WTI): 71.90;  Gold (Spot): 1292          

Best Regards, ARBIND

23 May 2018