MACRO ECONOMIC NEWS

CELEBRATE TO THE TUNE WITH THE DIVINE POWER ALL AROUND. MAY YOU BE BLESSED WITH EVERYTHING YOU CAN WISH FOR.

Macro Economic News 18 Oct 2018

 

Federal Reserve officials signaled they see a strong economy justifying continued interest-rate increases, minutes of their September policy meeting showed. The U.S. Treasury again passed up a formal opportunity to designate China a “currency manipulator,” but singled out the nation’s currency practices as a source of “particular concern.” The U.S. is boosting the size of a credit line available to Mexico in times of need, part of a largely symbolic display of close ties as the countries prepare to sign a new version of the North American Free Trade Agreement. Home construction fell last month, continuing a weak stretch driven by rising borrowing costs and expensive properties that are out of reach for most Americans.

 

FINANCIAL TIMES

[I]  Negotiators warn Trump-Juncker trade agreement at risk

[I]  Democrats grab fundraising edge in close congressional contests

[I]  US threatens to bar EU banks from exchanges

[I]  US and Turkey seek to avoid rupture with Saudi Arabia

[I]  Spain defends plan to increase taxes and spending

[I]  Indian minister quits following claims of sexual harassment

[I]  China donations claims throw New Zealand politics into turmoil

[I]  China’s growth slowdown puts private sector on the defensive

 

REUTERS

[I]  U.S. government refrains from calling China a currency manipulator

[I]  Trade off: China soybean imports set for biggest drop in 12 years amid tariff conflict

[I]  Singapore revises rules to counter 'shoebox apartment' problem

[I]  More Honduran migrants seek to join U.S.-bound group in Guatemala

[I]  Canada legalises recreational marijuana

[I]  Japan exports fall for first time since 2016 as trade war fears mount

[I]  BOJ's Kuroda offers slightly brighter view on inflation

 

BLOOMBERG 

[I]  What Damage Control Looks Like in Saudi Arabia

[I]  Trump Attacks the Weak Link Powell Can't Ignore in Fed Rate Plan

[I]  China's New Strategy for Curbing the World's Worst Stocks

[I]  Bank of Korea Holds Fire on Rates as Risks to Economy Grow

[I]  Fed Officials Debated Hiking Rates to Restrictive Territory

[I]  Dollar Libor at a 10-Year High Adds to Global Funding Headwinds

[I]  RBNZ Could Be Stacked Like U.S. Supreme Court, Opposition Warns

[I]  Japan's Exports Unexpectedly Fall After Natural Disasters

 

WALL STREET JOURNAL

[I]  Analysis: Pause in 2019 Seems Less Likely

[I]  Fed Minutes Point to Continued, Gradual Interest-Rate Increases

[I]  U.S. Criticizes China’s Currency Practices, but Doesn’t Add Manipulator Designation

[I]  U.S. to Deliver on Threat to End China’s Mail Privilege

[I]  U.S. Boosts Credit Line to Mexico in Gesture of Ties

[I]  U.S. Housing Starts Fell in September

[I]  Brexit Provides Early Proof of Deglobalization’s Costs

 

BUSINESS LINE

[I]  GST: FinMin may not extend deadline to claim input tax credit for 2017-18

[I]  Rising input costs force paint makers to hike prices

[I]  PE/VC investments set to hit record $29 b

[I]  Overloading of vehicles: Penalty will be linked to extent of excess weight

[I]  NBFCs lending against shares of little-known cos under RBI lens

[I]  Ahead of Telangana elections, loan waivers set to hit banks, agri sector

[I]  RBI to provide 2% interest subvention on crop loans

 

ECONOMIC TIMES

[I]  Rupee depreciation double whammy for trade, finds SBI study

[I]  Upturn in investment cycle could last upto 2022-23: Study

[I]  WTO reforms: India against secretariat giving out suggestions

[I]  Composition scheme biz need not file purchase details while filing GST quarterly returns

[I]  Commerce ministry working on new export incentive scheme

[I]  Niti suggests PPP model infra for treatment of non-communicable diseases at district hospitals

 

BUSINESS STANDARD

[I]  Share buyback likely to put additional burden on finances of PSUs

[I]  Stock market falls as NBFC liquidity fears weigh on investor sentiment

[I]  As RBI move opens new doors for fintech players, M-wallets face tough fight

[I]  DoT consults telcos to chart post-Aadhaar road to verify customers

[I]  Housing prices up 5.3% during April-June quarter in 10 major cities: RBI

[I]  Wholesale onion prices surge to 8-month high of Rs 21.5 per kg at Lasalgaon

[I]  Centre looks to set-up own company to promote select rural products

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10374;  USDINR DGCX: 73.6375;  DJIA Mini: 25650;  FTSE 100 Fut: 7034;  NIKKEI 225 Fut: 22651;  EUR-USD: 1.1498; Crude Oil (WTI): 69.81;  Gold (Spot): 1224

 

Best Regards, ARBIND

18 Oct 2018