MACRO ECONOMIC NEWS

EVERYTHING WE NEED IS ALREADY WITHIN US. WISHING A CONTENTED WEEKEND AHEAD.

Macro Economic News 16 Feb 2019

 

A rally in domestic prices curtailed physical gold demand in India and Japan, with interest in the precious metal lacklustre in other Asian centres. India's cash-starved residential real estate market is set to get a boost from foreign and domestic private equity firms, which are lining up big bets worth hundreds of millions of dollars for the sector.

 

Negotiators made progress on a memorandum of understanding that could serve as the basis for a deal that President Trump and Chinese leader Xi Jinping could later finalize.  Economic data are usually noisy, but this week included an onslaught of negative and often contradictory signals that made even seasoned economists scratch their heads. Consumers’ outlook for the U.S. economy rose in early February as American households absorbed the end of the government shutdown and the Federal Reserve’s decision to pause its rate increases. Inflation moderated across the board in China last month in another sign of lethargic domestic demand—one that economists said gives the central bank more room to stimulate economic growth. Volatile energy prices are holding down overall inflation in the U.S. economy, but underlying price growth remains steady.

 

FINANCIAL TIMES

[I]  Trump declares emergency to pay for border wall

[I]  US-China trade talks end with little sign of progress

[I]  Global miners count the cost of their failings

[I]  UK pubs toast recovery while restaurant chains struggle

[I]  UK art galleries prepare for Brexit

[I]  Labour joins tussle over ‘unfair’ tax avoidance charge

[I]  Global spending on cards set to reach $45tn by 2023

 

REUTERS

[I]  Fed policymakers see one U.S. rate hike, or none, as growth slows

[I]  India gold demand falls

[I]  Factories to test world's 'delicate equilibrium'

[I]  Private equity firms eye India's residential real estate space

[I]  U.S., Canada challenge Indian price supports on pulses

[I]  India's January trade deficit widens, slow exports growth a concern

[I]  India's oil imports from Iran plunged 45 percent in January

 

BLOOMBERG 

[I]  Oil Reaches 2019 High as Saudis Curb Output, Trade Tensions Ease

[I]  Record EU Trade Surplus With U.S. Could Put Trump Truce at Risk

[I]  U.S. Manufacturing Production Unexpectedly Contracts in January

[I]  Trump’s Border Wall ‘Emergency’ Faces First Legal Challenge

[I]  Trump, Xi Hail Progress in Trade Talks as Tariff Deadline Nears

[I]  Spanish Election Throws Rock Through Britain's Brexit Window

[I]  Fed Will Probably Change Its Approach to Inflation, Dudley Says

[I]  Montreal’s Real-Estate Market Is About to Eclipse Vancouver’s

 

WALL STREET JOURNAL

[I]  Chinese, U.S. Trade Negotiators Inch Toward a Broad Agreement

[I]  Contradictory Data Confound Economists

[I]  New Tariffs Threaten to Boost Prices of Imported Cars, Parts

[I]  Factory Output Contracts Unexpectedly in January

[I]  U.S. Consumer Sentiment Rises

[I]  Illinois Governor to Sign Bill Raising Minimum Wage to $15 an Hour by 2025

[I]  China’s Muted Inflation Likely to Spur Policy Easing

[I]  Energy Prices Hold Down Overall U.S. Inflation

 

BUSINESS LINE

[I]  MFN status to Pakistan withdrawn; import ban, port curbs on the cards

[I]  After Vande Bharat, more high-speed trains coming

[I]  Women continue to ‘wage’ a daily battle for pay parity

[I]  Exports grow 3.74% to $26.36 billion in Jan, trade deficit widens to $15.67 b

[I]  Singapore eyes smaller Indian cities

[I]  Only six PSBs cross ‘desirable’ level of 70% provision coverage ratio

 

ECONOMIC TIMES

[I]  India chalks out a $12 billion plan to combat air pollution

[I]  Rice Exports to gather steam on US, West Asia demand boost

[I]  Commerce ministry to notify WTO regarding revoking MFN status to Pakistan

[I]  India's Jan trade deficit widens to $14.73 billion: Trade ministry

[I]  Flow of credit, caution listing, GST refunds a concern for exports: Industry tells govt

 

BUSINESS STANDARD

[I]  Q3 results review: Corporate earnings see biggest dip in three quarters

[I]  India to soon have 100 more Vande Bharat Express trains, says Piyush Goyal

[I]  High cost of credit worries exporters as growth space shrinks

[I]  Govt proposes incentives worth Rs 88,500 crore to curb power emissions

[I]  Minimum wage for workers may rise by up to five times in 10 states

[I]  Small savings, fuel tax help govt reduce fiscal deficit to 3.4 % in FY19

[I]  RBI withdraws 20% limit on investments by FPIs in corporate bonds

[I]  RBI proposes hedging for 'anticipated exposure' of foreign currency debt

[I]  E-visa norms eased, tourists can stay up to one year with multiple entries

 

Best Regards, ARBIND
16 Feb 2019