MACRO ECONOMIC NEWS

WISHING COMPASSION AND LOVE ALL AROUND YOU

Macro Economic News 01 Jun 2018

 

America’s allies push back against Trump’s latest tariffs as markets voice their displeasure. The EU said it would take immediate steps to retaliate, while Mexico vowed to impose duties on everything from U.S. flat steel to cheese. Canada’s government said it will impose tariffs on as much as C$16.6 billion ($12.8 billion) of U.S. steel, aluminum and other products from July 1. U.S. manufacturers and business groups slammed the Trump decision, calling it a tax on U.S. companies and consumers.

 

FINANCIAL TIMES

[I]  US fires first shot in trade war with allies

[I]  Risks of more drama in repricing of Fed rate policy

[I]  Europe grapples with response to US trade war

[I]  Italy crisis poses dilemma for Draghi over ECB’s next step

[I]  China agrees to loosen foreign investment ‘negative list’

[I]  Poland warns ‘divisive’ EU budget will delay deal

[I]  Japan targets corporate chiefs with plea bargain system

[I]  Oil majors plug into electric vehicle technology

 

REUTERS

[I]  Indian economic growth hits highest rate in almost two years

[I]  Indian opposition surprises with election wins but BJP unruffled

[I]  New Zealand push on clean power comes with high political, economic risks

[I]  U.S. tariff move breaks international law: German finance minister

[I]  Inflation in Philippines a faultline for Duterte's "Build, Build, Build" ambition

[I]  Allies in G7 vow to fight U.S. tariffs, see threat to growth

[I]  RBI seen turning hawkish in June, raising rates in August: Reuters poll

[I]  Japan final May PMI confirms slowdown in factory growth

[I]  U.S. consumer spending accelerates; job market strengthening

 

BLOOMBERG 

[I]  India's Recovering Economy Puts June Rate Increase on Table

[I]  Irish Booze Rules Show British Brewers What Brexit May Bring

[I]  Allies Strike Back, Tight U.S. Jobs, Fed's Rate Path: Eco Day

[I]  Guts of Inflation Data Show Why Fed Hesitant to Declare Victory

[I]  Bond Traders' Fed Wagers Now Hinge on Jobs With Italy Angst Fading

[I]  New Venezuela Creditor Group Emerges to Tackle Defaulted Debt

 

WALL STREET JOURNAL

[I]  5 Things to Watch in the May Jobs Report

[I]  U.S. Tariffs Prompt Anger, Retaliation From Trade Allies

[I]  U.S. Consumer Spending Strengthened Further in April

[I]  U.S. Inflation Firms in April, Stays at Fed Target for Second Month Straight

[I]  India’s Economic Expansion Outpaces Rival China

[I]  Eurozone Inflation Jumps, but Uncertainty Still Clouds ECB Outlook

[I]  Swiss Are World Sports Champs…When It Comes to GDP

[I]  Trade Doubts, Mortgage-Finance Rules Factored Into Canada Interest Decision

[I]  Corporate Profits Boosted in Early 2018 by Tax Cuts

[I]  Fed’s Beige Book Finds Manufacturing Shifting Into Higher Gear

 

BUSINESS LINE

[I]  As Power Ministry seeks to make green retrofitting cost a ‘pass on’, tariffs to rise

[I]  Livestock farmers cry ‘fowl’ over US imports

[I]  No bids for AI; govt to restart process

[I]  ‘Costly crude, weak rupee can pose an immediate threat to growth’

[I]  OECD pegs India’s GDP growth in current fiscal year at 7.4%

[I]  Fresh monsoon ‘pulse’ likely from the weekend

[I]  Banking services remain suspended for second day

[I]  Home finance companies’ margins may come under pressure this year: CRISIL

 

ECONOMIC TIMES

[I]  India's per capita income grows by 8.6% in FY18

[I]  For Iran trade, India may reach out to Europe

[I]  Diversify export basket, focus on new markets to boost engineering shipments: Commerce secretary

[I]  Government keeps FY19 GDP growth estimate unchanged at 7.5%

[I]  Core Sector growth picks up pace in April, rises 4.7%

[I]  India, World Bank sign $500 million loan pact for rural roads

[I]  Plan to import gold from Russia on bond basis to help jewellery sector: Suresh Prabhu

 

BUSINESS STANDARD

[I]  GDP grows 7.7% in Q4; India retains world's fastest growing economy tag

[I]  RBI monetary policy: Economists see rate hike latest by August

[I]  Going Green: Any individual or firm can now own a solar park in India

[I]  Expressions of interest for only 13 areas under second oil acreage auction

[I]  Govt meets fiscal deficit target of 3.5% at Rs 5.92 trillion for 2017-18

[I]  Non-food credit demand rises by 10.7% in April 2018: RBI

[I]  India's agriculture growth slips to 4.5% in Q4 on higher base

[I]  RBI withdraws rule exceptions for NBFCs owned by govt

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10732;  USDINR DGCX: 67.6225;  DJIA Mini: 24473;  FTSE 100 Fut: 7688;  NIKKEI 225 Fut: 22265;  EUR-USD: 1.1694; Crude Oil (WTI): 66.95;  Gold (Spot): 1299          

Best Regards, ARBIND

01 Jun 2018