MACRO ECONOMIC NEWS

WISHING A DAY OF PATIENCE AND SUCCESS. GOOD MORNING.

Macro Economic News 03 Aug 2018

 

Apple hits $1 trillion, tough trade talk continues out of Washington, and Asia’s traders look to close out a tumultuous week on a high. SEC is boosting its scrutiny of brokerages that deal in cryptocurrencies, the latest sign that authorities want to know more about a burgeoning market that they fear might be full of misconduct. There’s more pain ahead unless China changes its economic system, as the Asian nation repeated it will never surrender to U.S. trade threats.

 

FINANCIAL TIMES

[I]  Trump administration proposes weaker auto emissions rules

[I]  US sanctions on Turkish ministers threaten strategic partnership

[I]  Gold demand slumps to lowest since 2009 – report

[I]  Trump zeroes in on China after trade truce with Europe

[I]  Pakistan considers mass privatisation drive as it seeks IMF bailout

[I]  Trump tax cut push for wealthy faces thorny obstacles

[I]  China’s indebted conglomerates pile into anti-poverty push

[I]  German government debt falls below $2tn

[I]  Bank of England raises interest rates to highest level since 2009

[I]  Eurozone business confidence hit by trade fears

 

REUTERS

[I]  India likely to postpone raising tariffs on U.S. goods

[I]  Swiss can give bank client data to India in tax dodge case - court

[I]  State refiners drive India's July Iran oil imports to a record: trade sources

[I]  China to focus more on transmission of monetary policy amid rising external uncertainty

[I]  Japan finmin says no concrete plan now for U.S. infrastructure fund

[I]  Sri Lanka central bank keeps key interest rates steady

[I]  China July services new business growth weakest since December 2015: Caixin PMI

[I]  BOJ policymakers at logger-heads addressing weak prices, rising stimulus cost

[I]  Japan plans sovereign wealth fund to finance U.S. infrastructure: Nikkei

 

BLOOMBERG 

[I]  Central Banks Take the Spotlight as Economic Anxiety Lingers: Eco Week

[I]  May Meets Macron as She Charts an 11-Week Path to a Brexit Deal

[I]  Hawkish Fed, Weak Yuan Signal More Trouble Ahead for Emerging Markets

[I]  To Trump's Chagrin, Trade Standoff Helps Power Dollar Higher

[I]  Japan's Biggest Theme Is Proving Tough to Play in Stock Market

[I]  Central Banks Take the Spotlight as Economic Anxiety Lingers: Eco Week

[I]  U.S. Farmland Values Hit a Record Despite Trade Fears

 

WALL STREET JOURNAL

[I]  Jobless Claims Tick Slightly Higher

[I]  China Says U.S. Trade Pressure Won’t Work

[I]  U.S. Pressures China With Punitive Trade, Defense Measures

[I]  Trump Administration Aims to Freeze Fuel Standards, End Tougher California Rules

[I]  Bank of England Raises Rates to Highest Level in Nearly a Decade

[I]  Adding Up the Cost of Climate Change in Lost Lives

[I]  Auto Sales Lost Speed in July

[I]  Treasury Plans to Boost Borrowing as Trillion-Dollar Deficits Loom

[I]  Federal Reserve Holds Rates Steady, Says Economy Is Strong

[I]  U.S. Manufacturing Activity Loses Momentum

 

BUSINESS LINE

[I]  India may hold tariff fire against US

[I]  Watch out, defaulters! Banks have detectives on your tail

[I]  ‘GST rate-cuts may lead to revenue shortfall in near-term’

[I]  Rising bad debts: PSBs add 1,186 more to wilful defaulters’ list in 27 months

[I]  Gold demand falls 8% in June quarter on weak jewellery sales

[I]  Farm exports clock 6% growth in Q1 to touch $4.68 billion

[I]  Monsoon unfazed by El Nino threat

[I]  Customer data portability coming in insurance sector

 

ECONOMIC TIMES

[I]  Rupee among top five in Asia on the total returns charts

[I]  63% of Indian firms struggling to comply with EU GDPR: Report

[I]  Integrated farming key to boost farmers income: Agriculture Minister

[I]  Swiss can give bank client data to India in tax dodge case: Switzerland's top court

[I]  Retaliatory tariffs on 29 US goods may be delayed by 45 days

[I]  Manufacturing sector's wimpy sentiment shows pain ahead

[I]  One-time settlement of VAT, excise disputes in the works

[I]  NITI Aayog working on strategy document to define 2023 objectives

 

BUSINESS STANDARD

[I]  Digital push: You may soon get 'instant cashback' on your GST e-payments

[I]  RBI policy move: Banks expected to raise term deposit rates gradually

[I]  Markets see steepest fall in 4 months on escalating US-China trade tensions

[I]  New NBFCs set up realty verticals to tap demand for credit from developers

[I]  Currency in circulation continues to grow fast, may impact liquidity

[I]  RBI's back-to-back rate hikes in sync with other emerging markets

[I]  Abolition of tax collected at source on e-commerce may be on cards

[I]  RBI adds gold to forex reserves in June quarter, buys 2.5 tonnes in March

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11317;  USDINR DGCX: 68.7525;  DJIA Mini: 25284;  FTSE 100 Fut: 7550;  NIKKEI 225 Fut: 22545;  EUR-USD: 1.1590; Crude Oil (WTI): 69.04;  Gold (Spot): 1208

Best Regards, ARBIND

03 Aug 2018