MACRO ECONOMIC NEWS

WISH THE DAY WITH JOY ALL AROUND THE ENVIRONMENT

Macro Economic News 05 Jun 2018

 

After more than two years on the back-burner, there are signs that China is once again focusing on its efforts to increase the yuan’s status in global finance. These days -- with China’s foreign reserves rising and volatility staying low -- officials have a window to refocus on quest for a bigger Chinese role in global finance. India’s central bank governor has a request for the U.S. Federal Reserve to slow the pace at which Fed plans to shrink its balance sheet to help emerging economies overcome the recent market turmoil. And America’s `maximum pressure’ campaign on North Korea continues, for now. OPEC is holding oil production steady even as it debates an increase, pumping 31.9 million barrels a day.

 

FINANCIAL TIMES

[I]  ECB bond buying under scrutiny from Rome

[I]  Kim Jong Un breaks with past in negotiating shift

[I]  Italian companies insulated from market turbulence

[I]  US ambassador to Germany seeks to ‘empower’ Europe’s right wing

[I]  Italian ministers threaten Europe over deportations and pensions

[I]  Anti-immigration party claims victory in Slovenia election

[I]  Nearly 30 years after Tiananmen, China has tightened control

[I]  May delays blueprint for future EU ties until after June summit

[I]  Jordan PM quits after mass protests over taxes

 

REUTERS

[I]  Vegetable prices jump in India as farmers go on strike

[I]  White House says 'powerful' sanctions to remain on North Korea

[I]  China pushes state banks into home rental market at their own risk

[I]  Property losses mount on Hawaii's Big Island as lava flow spreads

[I]  Japan's Sharp shares rise 3 pct as board considers Toshiba PC purchase

[I]  Mexico firms eye workaround on U.S. metals tariffs; consumers in bind

[I]  Euro firm as Italy worries ease; dollar holds upper hand on yen

[I]  Preview: For RBI, it's a choice between a rate hike now and August

[I]  Oil climbs, but record U.S. crude output, higher OPEC supplies drag

[I]  China's debt crackdown to hurt emerging markets, oil, metals: Fitch

 

BLOOMBERG 

[I]  Qatar's Year of Solitude: A Gulf Embargo's Impact in Six Charts

[I]  China Currency Challenge, Trump Goes Dutch, Modi Gambit: Eco Day

[I]  British Consumers Headed to Stores in Sweltering May

[I]  Dollar Is Driving Some Carry-Trade Returns Despite Volatility

[I]  China Revives Its Push to Make the Yuan Go Global

[I]  Philippine Companies Start Feeling The Pinch From Rising Prices

 

WALL STREET JOURNAL

[I]  How China Skirts America’s Antidumping Tariffs on Steel

[I]  After the Crisis, Italy and Spain Diverge

[I]  Economic Calendar: U.S. Trade Deficit

[I]  Canada Growth at Risk Due to Heightened Trade Anxiety: IMF

[I]  Widening Tariffs Threaten to Take a Big Economic Toll

[I]  Conference Board’s Employment Trends Index Declined in May

[I]  Global Trade Tensions Intensify

[I]  Emerging Markets Have a Dollar Problem

 

BUSINESS LINE

[I]  SEBI moves to ease corporate insolvency resolution process

[I]  Rising fuel cost adds to struggling farmers’ woes

[I]  Sops soon for contractors pursuing highway projects in N-E

[I]  Higher crude, weak rupee can widen CAD by $22-31 b: Ind-Ra

[I]  Monetary policy can only turn hawkish

[I]  India Inc fares poorly in climate-related disclosures

 

ECONOMIC TIMES

[I]  There’s no stopping crude rally if Opec fails to curb output cuts

[I]  South Korea asks India to relax gold, silver import norms

[I]  10-year bond yield hits 2-week high on rate hike buzz

[I]  Tea workers in West Bengal may go on indefinite strike in June

[I]  Sugar exports yet to pick up; supply pressures continue to impact prices: ICRA

[I]  Commerce Ministry approves 15 projects for export infrastructure under TIES

[I]  What explains the spike in fourth-quarter GDP growth?

[I]  Centralised AAR for GST on card for uniform rulings

[I]  NITI Aayog identifies five sectors that can adopt Artificial Intelligence

[I]  Government puts protocol in place to speed up FDI

 

BUSINESS STANDARD

[I]  Govt may announce a package of almost Rs 80 bn to bail out sugar sector

[I]  1-year report card: Insolvency and Bankruptcy Code gets off to a slow start

[I]  IPOs set to pick up after lull, firms line up offers worth Rs 200 billion

[I]  US Fed should slow its plans to shrink balance sheet, says Urjit Patel

[I]  EM currency fears: Right, but misplaced

 

MARKETS (8:45 am)

[I]  SGX NIFTY Fut: 10591;  USDINR DGCX: 67.3100;  DJIA Mini: 24792;  FTSE 100 Fut: 7713;  NIKKEI 225 Fut: 22498;  EUR-USD: 1.1694; Crude Oil (WTI): 65.08;  Gold (Spot): 1292          

Best Regards, ARBIND

05 Jun 2018