MACRO ECONOMIC NEWS

WISHING A VERY SPECIAL SMILING WEEK

Macro Economic News 25 Jun 2018

 

In a widely expected move, China cuts banks’ required reserve ratio. China’s central bank will cut the amount of cash some lenders must hold as reserves, unlocking about 700 billion yuan ($108 billion) of liquidity, as it seeks to control leverage and support smaller companies and to further promote the debt-to-equity swap program, according to the central bank. A fairly light week for economic data in Asia, with Indonesia trade and Singapore CPI on the docket, New Zealand’s central bank cash rate decision on Thursday will be among highlights. New Zealand trade data and China industrial profits are also due. Further afield, European Union leaders gather in Brussels with migration, Brexit and U.S. President Donald Trump’s tariffs topping the agenda.

Saudi Arabia promised to act decisively to keep oil prices under control, signaling a real supply boost approaching 1 million barrels a day is on the way to global markets. Recep Tayyip Erdogan, modern  Turkey’s longest-serving ruler, claimed a mandate to govern with sweeping new powers.

 
FINANCIAL TIMES

[I]  China cuts bank reserves by $100bn to cushion US tariffs

[I]  Italy disrupts ‘summit to save Merkel’ on migration

[I]  BIS warns of ‘disciplining force’ of financial markets

[I]  Antitrust policy is ripe for a rethink

[I]  Why German industry should fear a no-deal Brexit

[I]  Issues beyond OPEC will drive oil prices in coming years

[I]  US tariffs pose a danger to the global economy

[I]  Greece wins a fresh chance to go it alone

[I]  Markets may not be so abnormal after all

 

REUTERS

[I]  Weaker gold prices lure buyers in most Asian hubs

[I]  Trump calls for deporting illegal immigrants with 'no judges or court cases'

[I]  Exclusive: India speeds up environmental approvals in industry, alarms activists

[I]  Merkel presses over migration as 'European solution' fails

[I]  As trade war looms, China cuts some banks' reserve requirements to boost lending

[I]  India looks to revive rupee payment system for Iran oil imports: government sources

[I]  Saudi pledges 'measurable' oil supply boost as OPEC, Russia agree deal

[I]  All grown up and nowhere to work: Berlin runs short of office space

[I]  Trump greets EU trade reprisals with threat of steep auto tariff

[I]  Euro is here to stay - German finance minister

 

BLOOMBERG 

[I]  U.S., China to See Who Blinks First in Economic ‘Chicken’ Game

[I]  Mahathir Revives Singapore Water Dispute, Takes Swipe at Trump

[I]  The 12 Global Economic Indicators to Watch

[I]  U.S. IPOs Set for Busiest Week in Three Years

[I]  Bitcoin Approaches Year Low as Japan Cracks Down on Venues

[I]  Now Volatility Is Hitting Markets Where It Actually Matters

[I]  Russia Joins in on Retaliation Threats for U.S. Tariffs

[I]  The Big Bang Made London. Brexit Could Undo It

[I]  Industrial ETF Is Sinking and It Could Drag the S&P 500 Down With It

[I]  EU Warns the Global Trade War Is About to Get Worse

[I]  Baffled by OPEC, Hedge Funds Leave Oil Bets Up in the Air

 

WALL STREET JOURNAL

[I]  Trump Threatens 20% Tariff on European Cars

[I]  Supreme Court Rules States Can Collect Sales Tax on Web Purchases

[I]  Eurozone Business Activity Picks Up

[I]  A Generation of Americans Is Entering Old Age the Least Prepared in Decades

[I]  Retiring Baby Boomers Strain Entitlement Programs

[I]  Job Layoff Gauge Falls Heading into the Summer Months

[I]  Conference Board’s Leading Economic Index Rises

[I]  Companies Race to Top Off Pension Plans to Capitalize on Tax Break

[I]  U.S. Retirement Programs Strain Amid Retiree Growth

[I]  Real Time Economics: Which Way for Oil Prices? Which Way for Interest Rates?

[I]  Real Time Economics: The Older America Gets, the Harder It Will Be To Grow the Economy

 

BUSINESS LINE

[I]  Why the crop cover scheme is seeing enrolment wane

[I]  Banks need more time for new APIs: IBA

[I]  States behind GST success: PM

[I]  SEZ overhaul may see sops being linked to job creation

[I]  ‘Govt on track in solving power sector issues’

[I]  Govt plans to introduce direct delivery scheme at inland container depots

[I]  Surplus talent may see India buck the global salary-surge trend: Study

 

ECONOMIC TIMES

[I]  This one step may be crucial for India to avert the impending water crisis

[I]  2018 set to be watershed year for ecomm companies

[I]  OPEC and non-OPEC monitoring committee to look at oil output increase: Kuwait

[I]  Maharashtra's dairy farmers fail to get remunerative prices for milk

[I]  AIIB funds for OBOR projects:Government refuses to spell out stance

[I]  Suresh Prabhu sets out to woo superfunds from Australia

[I]  To avert impending crisis, India must respond urgently to managing water resources better

[I]  GSTN designing tools for taxmen to analyse data to check evasion

 

BUSINESS STANDARD

[I]  'Indian brand' Khadi set for a bigger play in foreign market

[I]  Spurt of first-time entrepreneurs driving growth of India's franchise biz

[I]  Logistics solutions provider Locus targets two million orders a day by 2019

[I]  On the rise: EPFO monthly payroll count jumps 43% in just a month

[I]  Monsoon to bring relief from heat in central, north India in 2-3 days: IMD

[I]  Govt to improve norms for auditors, corp professionals: P P Chaudhary

[I]  E-tailers investing in AI, robotics to identify fraud, reduce cost: Report

[I]  Statsguru: Gross NPAs of PSBs stand at 14.5% at the end of FY18

 

MARKETS (6:30 am)

[I]  SGX NIFTY Fut: 10782;  USDINR DGCX: --;  DJIA Mini: 24498;  FTSE 100 Fut: 7583;  NIKKEI 225 Fut: 22438;  EUR-USD: 1.1657; Crude Oil (WTI): 68.36;  Gold (Spot): 1272     

Best Regards, ARBIND

25 Jun 2018