MACRO ECONOMIC NEWS

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Macro Economic News 11 Jan 2019

 

India's December retail inflation is expected to have eased to its lowest since June 2017 as food costs fell and fuel prices rose at a slower pace. India on Thursday launched a programme to rein in dangerous pollution levels in more than a hundred cities that the government said it expected to improve air quality significantly. Federal Reserve Chairman Jerome Powell reiterated the central bank would be patient in raising interest rates this year after global growth worries gripped financial markets in recent weeks. Countries watching the U.S.-China trade talks are anxious for the two sides to reach a deal and avert the damage that a protracted fight poses to the global economy—even if many see the potential to benefit from the dispute. Consumer and producer prices decelerated sharply in China last month, compounding the challenge for Beijing in boosting sluggish demand in a deepening economic downturn.

 

FINANCIAL TIMES

[I]  Church leaders challenge Congolese election result

[I]  Mexico’s clampdown on fuel theft sparks backlash

[I]  Corporate America distances itself from Trump’s policies

[I]  Orban calls for anti-migrant takeover of EU institutions

[I]  ECB urged to keep options open as stimulus ends

[I]  Belarus dismisses speculation of unification with Russia

[I]  German business calls for tougher stance on China

 

REUTERS

[I]  Mexicans embrace bikes, scooters as fuel shortage drags on

[I]  Asia stocks at one-month high, focus stays on U.S-China trade talks

[I]  Trump threatens to use emergency power to build wall, end shutdown

[I]  Fed's Powell again stresses patience as U.S. economy's 'narrative' unfolds

[I]  Oil rises again but global economic concerns cap gains

[I]  India's inflation in December likely hit lowest since June 2017

[I]  U.S. weekly jobless claims showcase economy's strength

[I]  Sri Lanka seeks to lower IMF fiscal targets after political crisis

[I]  U.S. expects China's top trade negotiator to visit 'most likely' this month

 

BLOOMBERG 

[I]  Top Fed Officials Pledge Patience, Willingness to Act If Needed

[I]  U.S.-China Speed Dating Isn’t Enough to Tame Global Headwinds

[I]  The Winners and Losers of Big Oil's Offshore Spending Revival

[I]  This May Be the Year Japan's Yen Finally Reclaims 100 Per Dollar

[I]  Stock Picking Gets Harder in China as Shares Move in Tandem

[I]  Bond-Market Inflation Gauges Give Fed Plenty of Room to Pause

[I]  China Yuan Defies Economic Slowdown, for Now, With Fed Help

[I]  Australia’s Housing-Sector Slump Shows Up in Another Sickly Set of Data

 

WALL STREET JOURNAL

[I]  Fed’s Powell Affirms Flexible Rate Outlook

[I]  Fed Sent Lower Remittances to U.S. Treasury in 2018

[I]  Most Economists Expect Fed Will Hold Rates Steady at Least Until June

[I]  Trump Administration Nears Release of New Overtime Proposal

[I]  U.S.-China Trade Fight Shakes Global Economy, but Isn’t All Bad for Bystanders

[I]  Federal Employee Unemployment Claims Jump in Wake of Shutdown

[I]  China’s Sluggish Prices Raise Deflation Fears

 

BUSINESS LINE

[I]  Big relief for small businesses under GST

[I]  Amid quota battle, govts yet to fill 28 lakh jobs

[I]  Kerala to levy calamity cess up to 1% over and above GST

[I]  Experts stress on need for new models of data collection

[I]  Home buyers will have to wait longer for relief

[I]  India, Japan bilateral currency swap gets Cabinet nod

[I]  Centre mulls transport subsidy for States to push farm exports

 

ECONOMIC TIMES

[I]  Will RBI ease lending curbs on PSBs? This factor will decide

[I]  RBI defers capital buffer norms by a year

[I]  Sluggish shrimp production hits Indian seafood export

[I]  India's sugar mills struggling to export surplus as overseas prices fall

[I]  GST council meet: Will there be any relief & rate cuts for real state?

[I]  60% registered dealers may escape GST net if turnover threshold doubled

[I]  Poll-India's inflation in December likely hit lowest since June 2017

[I]  GST council meet: Relief for SMEs, real estate and lottery referred to GoM

[I]  Considering transport subsidy to states for promoting agri exports: Suresh Prabhu

[I]  GST exemption limit doubled to give relief to small businesses

 

BUSINESS STANDARD

[I]  Unemployment rose to a 4-year high during demonetisation: Govt survey

[I]  Govt to carry over Rs 25,000 crore in pending petroleum subsidies to FY20

[I]  Govt doubles GST exemption limit for MSMEs; 2 million businesses to benefit

[I]  RBI panel on MSMEs to chalk out plan to resolve liquidity crisis in sector

[I]  Sebi brings stricter cybersecurity framework for mutual funds, AMCs

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10901;  USDINR DGCX: 70.5775;  DJIA Mini: 23939;  FTSE 100 Fut: 6892;  NIKKEI 225 Fut: 20337;  EUR-USD: 1.1516; Crude Oil (WTI): 52.32;  Gold (Spot): 1290

 

Best Regards, ARBIND

11 Jan 2019