MACRO ECONOMIC NEWS

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Macro Economic News 09 Nov 2018

 

The Federal Reserve held short-term interest rates steady and offered a mostly upbeat assessment of the economy’s performance, suggesting another rate increase is likely at its next meeting. The number of Americans filing applications for new unemployment benefits fell last week, the latest sign of a historically tight labor market. The White House is facing a heated trade battle with Congress after Democrats retook the House, posing a significant challenge to Trump’s deal with Mexico and Canada.

 

FINANCIAL TIMES

[I]  Strong US economy puts Fed on track for December rate rise

[I]  Awakening of Spain’s far-right fringe unsettles mainstream parties

[I]  Data brokers and credit scorers accused of GDPR breaches

[I]  Brussels warns Italy of 3% deficit breach in 2020

[I]  Germany’s Manfred Weber wins vote to lead Europe’s centre-right

[I]  US arms sales to foreign governments rise by a third

[I]  China exports to US grow despite Trump’s tariffs

[I]  US agrees on talks to remove Sudan from terrorism list

[I]  Banks race to make money on trade finance platforms

 

REUTERS

[I]  North Korea postponed talks with U.S. because not ready - Haley

[I]  Fed leaves rates unchanged, says U.S. economy strong

[I]  China's producer inflation slows again in October on ebbing domestic demand

[I]  U.S., Mexico, Canada ministers to sign trade pact Nov. 30, official says

[I]  Oil prices down 20 percent in a month as fundamentals weaken

[I]  U.S. accuses China accused of violating bilateral anti-hacking agreement

[I]  U.S. imposes new sanctions on Russia for Crimea, investments

[I]  U.S. weekly jobless claims fall slightly in latest week

[I]  Japan machinery orders hit by worst-ever slump in Sept, raise capex doubts

 

BLOOMBERG 

[I]  Checking China's Market Pulse After State Stabilizes Stocks

[I]  Fed Holds Rates Unchanged Ahead of Expected December Hike

[I]  Buy ‘Cheap’ Yen Before Its Big Awakening in 2019, SocGen Says

[I]  Wall Street Muni-Bond Bankers Need Work. Voters Gave Them Plenty

[I]  El Nino Could Give China a Trade War Boost

[I]  Quants Are Facing a Crisis of Confidence

[I]  Saudi Think Tank Studying Hypothetical World Without OPEC

 

WALL STREET JOURNAL

[I]  Fed Holds Rates Steady, Signals More Rate Increases Ahead

[I]  Parsing the Fed: How the November Statement Changed From September

[I]  U.S. Jobless Claims Edged Lower Last Week

[I]  Democrats’ House Victory Complicates Passage of Trade Deals

[I]  ECB President Calls on Eurozone Nations to Cut Debt

[I]  Job Openings Outnumbered the Unemployed by More Than One Million

[I]  U.S.-China Trade Tensions on Display at Shanghai Expo

[I]  Mexican Inflation Slowed Modestly in October

[I]  More Factories Crop Up Closer to Customers

 

BUSINESS LINE

[I]  China agrees to import raw sugar from India

[I]  Drought-like conditions persist in many States

[I]  Finance Ministry may give e-commerce firms more time to deposit collected tax

[I]  To shore up divestment proceeds, Cabinet clears sale of ‘enemy shares’

[I]  GST refunds: FinMin promises speedy disbursal, says over 90% of claims cleared

[I]  Steel, Commerce Ministries differ on challenging WTO panel ruling

[I]  Karnataka renews NMDC mine lease for 20 years

[I]  ‘Financial sector woes biggest threat to economy’s growth over next few years’

 

ECONOMIC TIMES

[I]  Sugar exports from India to China to begin soon: Government

[I]  Why farmers still continue to burn stubble in Punjab, Haryana

[I]  NBFC crisis poses more growth headwinds: Report

[I]  Study finds unemployment rate at 6.9%, a 2-year high

[I]  India's economic growth to slow to 7.3% in 2019: Moody's

[I]  Illicit products adversely affecting Indian industry: Report

 

BUSINESS STANDARD

[I]  Green shoots of liquidity for NBFCs, HFCs in commercial paper market

[I]  Hunting for jobs? India Inc FY18 hiring slowest in 3 yrs, more pain ahead

[I]  Liquidity crisis: India likely to lose 'largest diamond processor' title

[I]  India-Japan trade dispute: Policymakers concerned over WTO verdict

[I]  Why sitting in bumper-to-bumper traffic is becoming more of a headache

[I]  RBI circular to send 100 more firms to NCLT; SC to hear cases from Tuesday

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10582;  USDINR DGCX: 72.7750;  DJIA Mini: 26154;  FTSE 100 Fut: 7097;  NIKKEI 225 Fut: 22338;  EUR-USD: 1.1355; Crude Oil (WTI): 60.45;  Gold (Spot): 1220

 

Best Regards, ARBIND

09 Nov 2018