MACRO ECONOMIC NEWS

WISH THE DAY BRINGS HAPPINESS AND SWEET MEMORIES TO LIFE

Macro Economic News 06 Jun 2018

The U.S. and North Korea nail down a venue for next week’s historic summit, Wall Street isn’t afraid of emerging markets, and Carson Block calls out Chinese companies listing in the U.S. Crude oil reversed early losses to close higher for the first time in four days, while the dollar also gained. Coming up, the Reserve Bank of India is expected to hold rates unchanged at 6% on Wednesday, while Australian GDP and Japanese wage growth data for April await.

 

FINANCIAL TIMES

[I]  White House presses US airlines to resist Beijing over Taiwan

[I]  Brazil’s retreat over truckers’ strike heightens investor doubts

[I]  Conte bullish on Italian ‘negotiating power’ ahead of EU talks

[I]  Iran begins preparations to boost uranium enrichment

[I]  Mexico retaliates against steel levies with tariffs on US imports

[I]  South Africa suffers worst quarterly contraction in almost a decade

[I]  Barbados braced for tough measures to clear debt burden

[I]  Austria vows EU migration revolution amid deadlock

 

REUTERS

[I]  India prepares sweeteners for sugar mills, cane growers

[I]  India plans stockpile of 3 mln tonnes: Paswan

[I]  Weak demand drags India services activity into contraction in May: PMI

[I]  Reserve Bank of India to hold rates, but June hike now close call: Reuters poll

[I]  Australia first-quarter GDP growth beats expectations

[I]  China central bank injects 463 billion yuan via one-year MLF, with rates unchanged

[I]  U.S. pushes NATO for more forces to deter Russian threat

[I]  Expect disagreements over tariffs at G7 summit - Canada official

[I]  EU expects no breakthrough on U.S. tariffs at G7 summit - EU official

[I]  Japan April real wages unchanged in blow to consumer spending

 

BLOOMBERG 

[I]  Australia's Economy Grows Faster Than Forecast; Currency Gains

[I]  America May Need to Adopt China's Weapons to Win Tech War

[I]  ECB QE Debate Next Week Might Lead to Policy Change

[I]  Emerging Markets in May Saw Biggest Outflows in 18 Months

[I]  The U.S. Coal Miners That Could Gain From More Chinese Business

[I]  Sudan Says U.S. Hasn't Lifted Technology Sanctions

[I]  Inflation Bogeyman Prompts Fuel Subsidies Across Southeast Asia

 

WALL STREET JOURNAL

[I]  American Job Openings Now Outnumber the Jobless

[I]  Social Security Expected to Dip Into Its Reserves This Year

[I]  China Offers to Buy $70 Billion in Goods to Fend Off Tariffs

[I]  Mexico Lists Retaliatory Tariffs Against U.S., Adds Bourbon

[I]  Services Sector Businesses Are Struggling to Get Supplies They Need

[I]  OPEC Faces New Concern Over Global Oil Stocks: China

[I]  Treasury Works to Address Concerns Over Taxes on Overseas Earnings

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

[I]  After the Crisis, Italy and Spain Diverge

 

BUSINESS LINE

[I]  Bank loans worth Rs. 5-lakh cr turned into NPAs in FY18: Crisil

[I]  Govt working on comprehensive law for transporting hazardous goods

[I]  SEBI doubles ‘Angel Funds’ investment limit in VC firms to Rs. 10 cr

[I]  Fingers crossed, skilled workers protest UK’s immigration crackdown

[I]  Railways explains to Finance Commission measures to improve productivity

 

ECONOMIC TIMES

[I]  Ecomm firms turn desperate, try to woo delivery execs with double-digit hikes, perks

[I]  Crude caught in downward spiral; US output, Opec sober up mood

[I]  Farmers’ strike fails to hit vegetable prices

[I]  GST from lotteries fetch nine state governments nearly Rs 3,950 crore

[I]  India, Russia plan a mega summit

[I]  Services PMI contracts for first time in 3 months

[I]  Trade war a 'lose-lose' situation: Raghuram Rajan

[I]  NITI Aayog preparing roadmap for full-scale methanol economy

[I]  PMO may come to banks’ rescue on loan provisions

 

BUSINESS STANDARD

[I]  Direct tax panel may suggest single tax on capital market investments

[I]  Retail credit now bigger market for banks and NBFCs than loans to industry

[I]  Sealing drive puts Delhi car market in the slow lane as demand drops by 10%

[I]  IBC one-year report card: Recovery of bad loans set to see slowdown

[I]  India might hold world's second largest gas hydrate reserves

[I]  Revenue worry in poll year as PSU dividends, spectrum sale disappoint

[I]  India projected to top wealth growth rate over next 10 years

[I]  Govt unable to crack GST e-wallet code as export refunds remain unpaid

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10594;  USDINR DGCX: 67.2675;  DJIA Mini: 24860;  FTSE 100 Fut: 7674;  NIKKEI 225 Fut: 22584;  EUR-USD: 1.1721; Crude Oil (WTI): 65.70;  Gold (Spot): 1297          

Best Regards, ARBIND

06 Jun 2018