MACRO ECONOMIC NEWS

WITH A LOVELY ROSE OF A RAREST ESSENCE, WHISPER OF PASSION AND BREATHE OF LOVE, WISHING YOU A BLOSSOMED DAY AHEAD.

Macro Economic News 07 Feb 2019

 

A poll by Reuters showed that the Indian rupee is set to underperform against the dollar again this year, weighed down by uncertainty ahead of a national election in May, but is unlikely to retest life-time lows. Venezuela’s unfettered embrace of socialism now is ripping that nation apart, but the term has lost all ideological substance as it is currently bandied about in U.S. politics. The U.S. trade deficit unexpectedly narrowed in November to its smallest amount in five months, driven by a drop in imports, especially from China. German manufacturers reported a sharp drop in orders at the end of last year, a sign that businesses around the world may be holding back on new investments in the face of trade uncertainty.

 

FINANCIAL TIMES

[I]  World’s largest carmakers warn of bleak year ahead

[I]  Business fury at UK failure on post-Brexit trade deals

[I]  EU prepares for no-deal Brexit — and ensuing blame game

[I]  ECB to test how long banks can last without fresh funds

[I]  Pay jump for contract staff signals shake-up in Japan’s job market

[I]  Climate change pushes global temperatures to record highs

 

REUTERS

[I]  Rupee the 'whipping boy', but to dodge record low

[I]  U.S. and China to resume trade talks next week in Beijing

[I]  Oil dips on rising U.S. supply, but OPEC cuts lend support

[I]  Aussie under pressure after RBA's dovish shift, yen firmer

[I]  Government tightens rules on unregulated deposit schemes

[I]  U.S. trade deficit narrows in November as imports decline

[I]  Brexit, global slowdown to weigh on Bank of England

[I]  U.S. Commerce Dept releases new dates for quarter four GDP, other reports

 

BLOOMBERG 

[I]  Dollar Is ‘Best of a Bad Bunch’ in Surprise Turn for Wall Street

[I]  Europe's Diesel Drivers Beware: Heftier Tax Is Coming Your Way

[I]  Nifty Rally Leaves India Stock Investors Low in Two-Faced Market

[I]  U.S. Erupts in Fury as Germany Deports Terrorist to Turkey

[I]  Former Fed Chief Yellen Says Rates Next Move Could Be Up or Down

[I]  Brazil Keeps Key Rate Unchanged on Tame Prices and Weak Demand

[I]  Iran Oil Industry Faces Bleak Outlook 40 Years After Revolution

 

WALL STREET JOURNAL

[I]  Venezuela Disaster Exposes the Fake Socialism Debated in U.S.

[I]  U.S. Trade Deficit Narrowed in November

[I]  U.S. Factory Worker Productivity Rises; Shutdown Limits Picture

[I]  Domestic Investors Pick Up Foreign Creditors’ U.S. Debt

[I]  Powell Lauds Fed’s ‘Precious’ Independence From Politics

[I]  Fed Chairman Powell to Testify Before House Committee on Feb. 27

[I]  Trade Uncertainty Sends a Chill Through German Manufacturing

 

BUSINESS LINE

[I]  Ayushman push comes at the cost of other health schemes

[I]  Draft logistics policy proposes e-marketplace and a fund for start-ups

[I]  Weak exports take a toll on volumes

[I]  China’s disdain for religious freedoms

[I]  Reinsurance firms approach IRDAI for separate set of accounting norms

[I]  In child poverty, India next only to sub-Saharan Africa: Report

 

ECONOMIC TIMES

[I]  Rupee the 'whipping boy', but may dodge record low

[I]  Fiscal Deficit target of 3% is feasible as we are growing at a speed never seen before: FM Piyush Goyal

[I]  Government allows export of bio-fuels from special economic zones, EoUs

[I]  No cut in subsidies, expect more tax steps in full budget: Piyush Goyal

[I]  Cabinet approves amendments to Banning of Unregulated Deposit Schemes Bill

 

BUSINESS STANDARD

[I]  Govt explores pre-packaged bankruptcy plan to fast track insolvency process

[I]  New RBI norms on bank subsidiaries to overhaul equity holding structures

[I]  America the country with the most unicorns, India a distant fourth

[I]  Despite over 200 million users, WhatsApp does not rule out exiting India

[I]  Countering India's e-commerce cacophony

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11111;  USDINR DGCX: 71.8575;  DJIA Mini: 25283;  FTSE 100 Fut: 7098;  NIKKEI 225 Fut: 20737;  EUR-USD: 1.1360; Crude Oil (WTI): 53.90;  Gold (Spot): 1304

 

Best Regards, ARBIND

07 Feb 2019