MACRO ECONOMIC NEWS

WISH WE LIBERATE FROM OWN CAPTIVITY GOOD MORNING

Macro Economic News 06 Jul 2018

Asia traders will be digesting the FOMC meeting minutes from June, and bracing for U.S. tariffs on Chinese goods set to go into effect Friday. Federal Reserve officials at their meeting last month signaled they could raise interest rates over the next year to a level that no longer seeks to stimulate growth, formally ending a long chapter in which the central bank unleashed unprecedented stimulus. Hiring at private U.S. employers grew less than expected in June, according to a report, as businesses struggled to find qualified workers.

 

FINANCIAL TIMES

[I]  US immigration crackdown disrupts businesses

[I]  EU rigidity on Brexit putting lives at risk, says German minister

[I]  Europe braces itself for twin Trump summits

[I]  Bank of England’s Mark Carney warns of hit from global trade war

[I]  UK business leaders invited to dine with President Trump

[I]  EU ombudsman says ECB in denial over bankers’ group

[I]  Pakistan seeks more loans from China to avert currency crisis

[I]  N Korean defectors caution US against Kim’s deceptive strategies

 

REUTERS

[I]  Iran to Trump: oil will cost $100 per barrel, and it is your fault

[I]  Global Markets: China anxiety hits Asia stocks as tariff deadline nears

[I]  Trump says U.S. tariffs could be applied to Chinese goods worth $500 billion

[I]  Pound to rally after UK leaves EU, say FX strategists: Reuters poll

[I]  As tariffs loom, China state media slams Trump's 'gang of hoodlums'

[I]  Japan household spending tumbles but real wages offer glimmer of hope

[I]  Do your Brexit duty, Britain's May tells her divided government

[I]  Major currencies in holding pattern ahead of U.S. tariff deadline, jobs data

[I]  Bank of England's Carney boosts expectations for August rate hike

[I]  U.S. energy, agricultural and plastics firms gird for next round of tariffs to drop

 

BLOOMBERG 

[I]  Chinese Stocks Set for Longest Weekly Losing Streak in Six Years

[I]  Oil Price Spike or Ignore Trump: China and India's Big Decision

[I]  7-Eleven Arrives in Vietnam Aiming for 100 Stores in Three Years

[I]  Earnings Season Another Reason for Asia Traders to Sell

[I]  Here's How Asia Rate-Hike Bets Are Shifting on the Trade Fight

 

WALL STREET JOURNAL

[I]  Fed Shifts Focus to Risks of Overheating Economy

[I]  Behind the Flattening Yield Curve: Fed Rate Increases and Tariff Fights

[I]  U.S. Private Sector Continues to Expand

[I]  U.S. Jobless Claims Rose Last Week

[I]  U.S., China Prepare for Trade Battle

[I]  Tax Wrinkle Spurs Pension Funds to Buy More Treasurys

[I]  U.S. Nonmanufacturing Activity Accelerated in June

[I]  In This Economy, Quitters Are Winning

[I]  Trade War Could Knock Global Growth, Says Bank of England

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

 

BUSINESS LINE

[I]  Banks agree not to undercut each other on loans

[I]  US sanctions effect: Indian banks’ reluctance to process payments worries Russia

[I]  Air India divestment still on the cards, Govt waiting for right moment: Choubey

[I]  Education and skill development, the most preferred areas for CSR funds

[I]  Order does not give govt powers over officers: Jaitley

[I]  ‘Be prepared for heightened volatility in 2018’

[I]  Global giants see big gaming play in India

[I]  Monsoon to revive over East and Central India

 

ECONOMIC TIMES

[I]  Global trade woes, dollar surge leave copper red-faced

[I]  Gold exports down 13% post-GST

[I]  How Indore has set the tone for municipal bonds

[I]  In case of a bumper crop, MSP hike may create storage issues

[I]  Government plans to sell 7-8 million tonnes of wheat at Rs 1,890/quintal to bulk consumers

[I]  Engineering exports grow 20 per cent in April-May period

[I]  MSP hike may weigh on RBI’s inflation forecast, push up rates

[I]  Be a sport, make gambling legal: Law Commission

[I]  Ecommerce subgroup suggests FDI in inventory model

[I]  Are you a bitcoin investor? Today is the last day to save your investment

[I]  GST credits taken by tech companies under taxman’s lens

 

BUSINESS STANDARD

[I]  We should not take our eyes off IBC, says CEA Arvind Subramanian

[I]  India may invest around Rs 16.6 bn to buy 70% in Sri Lankan ghost airport

[I]  Trai issues changes to interconnect regulations, tweaks norms

[I]  India set off highest trade restricting measures among G20 nations: WTO

[I]  Govt in process of creating comprehensive plan for aviation sector: Prabhu

[I]  A right to sell at MSP: CACP wants legislation to ensure farmers benefit

[I]  Banks finalise inter-creditor agreement to fast track NPA resolution

[I]  Tougher entry into India for investors from 25 nations in 'high risk' list

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10713;  USDINR DGCX: 69.0425;  DJIA Mini: 24307;  FTSE 100 Fut: 7554;  NIKKEI 225 Fut: 21691;  EUR-USD: 1.1687; Crude Oil (WTI): 72.79;  Gold (Spot): 1253          

Best Regards, ARBIND

06 Jul 2018