MACRO ECONOMIC NEWS

MAY WE ALL ALIGN OURSELVES WITH THE SPIRIT OF GOD. GOOD MORNING

Macro Economic News 03 Jul 2018

 

American factory activity accelerated for the second straight month in June, signaling momentum in the U.S. manufacturing sector. The Mexican election removes a hurdle to the renegotiation of Nafta, raising the likelihood the treaty again will become a focal point in President Trump’s effort to rewrite trade rules. The Farm Belt helped put Donald Trump in the White House, drawn to his promises to revive rural America and deregulate industry. Now, the president’s trade offensive is threatening the livelihoods of many farmers.

 

FINANCIAL TIMES

[I]  Greeks more hopeful as economy sputters into life

[I]  Countries face higher debt bills due to climate risks

[I]  Trump may use New Deal-era agency to aid farmers

[I]  China plans income tax cut to boost consumption and reduce inequality

[I]  US claims 50 companies plan to quit Iran to avoid sanctions

[I]  EU begins legal action against Poland over Supreme Court reform

[I]  Japanese companies highlight rise in capital spending

[I]  South Korea to cap working week at 52 hours

[I]  Carmakers warn of production shift to avoid tariffs

 

REUTERS

[I]  India bankers panel suggests steps to tackle bad loans

[I]  China's June export growth to U.S. slows sharply: China customs

[I]  BOJ likely to cut inflation forecasts for current, next fiscal years: sources

[I]  Canada not helping itself by hitting U.S. with tariffs: White House

[I]  Japanese firms expect only modest inflation pickup over next year - BOJ

[I]  Chinese state media call for market calm amid trade frictions

[I]  Global Economy: Trade frictions disrupt global factory growth

 

BLOOMBERG 

[I]  ECB Faces Ghost of Rate Hikes Past a Decade After 2008 Misstep

[I]  U.K. Lawmakers Ask BOE, Treasury for Assessment of Brexit Deal

[I]  China Set for Record Defaults, and Downgrades Tip More Pain

[I]  Merkel Defuses Coalition Clash Over Migration With Compromise

[I]  Saudis Weigh Lure of Higher Oil Prices With U.S. Call for More

[I]  Australian Dollar Poised to Rally Against Kiwi, Indicators Show

[I]  Rising Oil Price Has Gulf Arab Borrowing at Lowest Since 2014

[I]  Locals See Opportunity in $55 Billion Philippine Stocks Rout

 

WALL STREET JOURNAL

[I]  U.S. to Consider Iran Sanctions Relief on a ‘Case-by-Case’ Basis

[I]  Factory Activity Heats Up as Manufacturers Position for Tariffs

[I]  Mexican Vote Could Aid Nafta Talks

[I]  Trade Tensions Threaten U.S. Farm Belt, Trump’s Base

[I]  South Korea’s CPI Rises 1.5% in June

[I]  Bankrupt Indian Companies Are Clogging the Economy—but Now the Clock Is Ticking

[I]  As Economy Surges, Some Fear Slowdown Looms

[I]  Fed Faces Decisions on Shrinking Huge Bond Portfolio

[I]  Fed’s Rosengren Discusses Economic Outlook and Risks

[I]  Global Week Ahead: U.S. Employment Report; Australian, Swedish Policy Meetings

 

BUSINESS LINE

[I]  Mehta panel submits 5-point plan to fight NPAs

[I]  Kharif output may be down a tad at 134 mt

[I]  Drugs Controller to check genuineness of top 300 pharma brands

[I]  New regulations for ‘used cooking oil’ come into effect

[I]  Goyal expects fiscal deficit to be lower than Budget Estimate in FY19

[I]  Strong demand for high-grade commercial properties boosts credit profiles of realty firms: Crisil

[I]  Self-employment is a mantra, but is it working?

 

ECONOMIC TIMES

[I]  Govt rules out bad bank, unveils five-point plan to clean NPA mess

[I]  India has 'Plan D' ready for Iran oil amid Trump sanction pressure

[I]  America's strategy will cost you: China to India

[I]  After record first half, M&A deals face election jitters

[I]  Online bigotry is becoming a risk for India's biggest companies

[I]  Raise irrigated area to protect country from climate change risks: CEA

[I]  India grants tariff concessions to APTA members on 3,142 items

[I]  India's core industries output slows to 10-month low of 3.6% in May

[I]  Indian consumer sentiment remains stable in June: Report

[I]  Manufacturing activity rises in June, PMI at 53.1

 

BUSINESS STANDARD

[I]  Now, one-fourth of Indian pharma market to be under price control

[I]  Over a decade later, 77 of 200 'vanished' companies untraceable

[I]  Higher customs duty: Overall imports decline, but many items buck the trend

[I]  More investors turned defensive in 2018 over 'uncertainties', says survey

[I]  June manufacturing sees fastest growth in 2018; inflation remains a worry

[I]  UPI transactions grow fastest in six months, up 30% at 246 mn in June

 

MARKETS (08:40 am)

[I]  SGX NIFTY Fut: 10640;  USDINR DGCX: 69.2075;  DJIA Mini: 24216;  FTSE 100 Fut: 7494;  NIKKEI 225 Fut: 21805;  EUR-USD: 1.1631; Crude Oil (WTI): 74.53;  Gold (Spot): 1239          

Best Regards, ARBIND

03 Jul 2018