MACRO ECONOMIC NEWS

WISHING A DAY OF RISING AND RAISING. GOOD MORNING.

Macro Economic News 01 Aug 2018

The U.S. is considering higher tariffs on $200 billion of Chinese imports, after optimism over the potential for renewed trade talks boosted stocks. This move that would ratchet up pressure on Beijing to return to the negotiating table. China’s Politburo signaled Tuesday that policy makers will focus more on supporting economic growth amid risks from a campaign to reduce debt and the trade standoff with the U.S. The communique, which followed a meeting of the country’s 25 most senior leaders led by President Xi Jinping.

FINANCIAL TIMES

[I]  BoJ defies global move to roll back crisis-era stimulus

[I]  US tech sell-off sweeps up China bellwethers

[I]  Whistleblowers report Legal & General arm to watchdog

[I]  Turkish central bank sharply increases inflation forecast

[I]  Eurozone economy grows at weakest rate for two years

[I]  North Korean commitment to denuclearisation faces new scrutiny

[I]  IMF warns eurozone that Greece needs more debt relief

[I]  Pakistan hits back at US resistance to IMF bailout

REUTERS

[I]  Balancing act: RBI likely to raise rates again

[I]  Trump to propose 25 percent tariff on $200 billion of Chinese imports: source

[I]  South Korea's July exports return to growth, but outlook murky

[I]  Oil extends decline after biggest monthly slump in two years

[I]  Trump defends trade and tariff policies at Tampa rally

[I]  Japan July manufacturing activity, new orders slow: final PMI

[I]  South Korea's factory activity contracts for fifth month, new orders shrink: PMI

[I]  India seeks Japanese, Korean investment in high-grade auto steel - official

[I]  India's June infrastructure output growth hits seven-month high of 6.7 percent

BLOOMBERG 

[I]  Five Things to Watch for in Australia's August Earnings Season

[I]  U.S. and Mexico Nearing Nafta Car Deal, Sources Say

[I]  Bond Traders See Fed as Only Game in Town for Policy Tightening

[I]  Here's How America Uses Its Land

[I]  Trump All-In On China, Powell Risk, One Aussie a Minute: Eco Day

[I]  Australia House Prices Fall the Most in 7 Years

[I]  Bank of England Urged to Be More Open About Brexit

[I]  China's Steelmakers Are Smashing Production Records

[I]  Chicago Faces Lowest Budget Gap Since 2007 in Coming Fiscal Year

WALL STREET JOURNAL

[I]  U.S. Workers Get Biggest Pay Increase in Nearly a Decade 

[I]  Household Spending, Income Rose in June

[I]  U.S. Consumer Confidence Rises Slightly 

[I]  U.S. Household Spending, Income Rose in June 

[I]  Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market. 

[I]  Home Price Gains Held Steady in May

[I]  The Next Crisis: A Historic Shortage of New Homes

[I]  Chinese Economy Starts to Feel Impact of U.S. Tariffs 

BUSINESS LINE

[I]  I-T dept can’t attach property being liquidated under IBC

[I]  Major ports allowed to invest their PF, surplus funds in bonds, equities

[I]  Poultry imports: US not willing to withdraw $450-million retaliation case against India

[I]  KPMG: Indian CEOs more confident about global economic growth

[I]  Rs. 7.63-lakh crore investment projected for petrochem hub

[I]  India welcomes US move to grant STA-1 status

ECONOMIC TIMES

[I]  UIDAI has a message for you on Aadhaar

[I]  New anti-corruption law comes into force

[I]  Sugarcane arrears to farmers down to Rs 16,600 crore: Government

[I]  Rains damage crops over 46,440 lakh hectare

[I]  US granting STA-1 status to India is a big rebuff to China

[I]  Indian GDP may moderate to 7.2% in second half of 2018: Nomura Report

[I]  Employees’ social security contribution may be pared

[I]  CSR norms: Corporate Affairs Ministry puts in place centralised scrutiny mechanism

[I]  E-tailers' group firms may not influence price of goods, services in any ways: Draft ecomm policy

[I]  Government to withdraw FRDI bill; writes to Parliamentary panel

[I]  Need for relook at payments norms to keep pace with tech changes, says Niti Aayog

BUSINESS STANDARD

[I]  RBI begins simultaneous annual financial inspections for banks

[I]  Draft policy for e-commerce proposes very little for incumbent players

[I]  Private equity funding likely to shrink if founders have the last word

[I]  Don't display Aadhaar number publicly, says UIDAI after Trai chief's dare

[I]  Balance sheets of external sector, banks need greater focus of govt: Report

[I]  SC ruling on tax exemption may trigger a fresh slew of litigation

[I]  Eight core sector growth jumps to 7-month high of 6.7% in June

MARKETS (08:10 am)

[I]  SGX NIFTY Fut: 11392;  USDINR DGCX: 68.7275;  DJIA Mini: 25374;  FTSE 100 Fut: 7682;  NIKKEI 225 Fut: 22674;  EUR-USD: 1.1685; Crude Oil (WTI): 68.37;  Gold (Spot): 1224

Best Regards, ARBIND

01 Aug 2018