MACRO ECONOMIC NEWS

HERE COMES THE GOLDEN CHILD OF WEEKDAYS; HAVE FUN ITS FRIDAY. WISHING A MEMORABLE DAY AHEAD.

Macro Economic News 26 Apr 2019

 

Reuters poll suggests global tightening cycle may be over and time for a slower ride for growth ahead. Economic growth was likely solid in the first three months of the year, despite a rocky start to the quarter due to prolonged government shutdown and financial-market turmoil in late 2018. Orders for long-lasting factory goods rose in March at the fastest clip in seven months, surpassing expectations and suggesting demand picked up after a slow start to the year. The number of Americans filing applications for new unemployment benefits rose sharply last week. The U.S. homeownership rate fell for the first time in more than two years in the first quarter, putting the brakes on the recovery of an important piece of the economy.

 

FINANCIAL TIMES

[I]  Merger collapse plunges Germany’s biggest banks into uncertainty

[I]  Macron promises tax cuts in new French reforms

[I]  China pledges to address debt worries over Belt and Road

[I]  Turkish markets weaken on central bank reluctance to raise rates

[I]  Rich nations urged to prepare workers for automation

[I]  Bank of Japan vows to hold rates at zero until spring 2020

[I]  Iran left with few choices as Trump steps up pressure

 

REUTERS

[I]  Global tightening cycle over, slower ride for growth ahead: Reuters Poll

[I]  Japan March jobless rate rises to 2.5%

[I]  Brent slips from $75 per barrel as investors doubt rally will endure

[I]  Exclusive: U.S. accelerates plan to drastically downsize Kabul embassy - sources

[I]  Japan tells U.S. can't link monetary policy to trade: finance minister Aso

[I]  U.S. capital goods orders hit record high; weekly jobless claims rise

[I]  Britain and China to hold new round of financial talks in London in June

[I]  Fed done raising rates; cut by end-2020 growing more likely: Reuters poll

 

BLOOMBERG 

[I]  World Trade Volumes Are Plunging at the Fastest Pace in a Decade

[I]  U.S. Jobless Claims Rise Most Since 2017, Topping Estimates

[I]  U.S. Business-Equipment Orders Advance by Most Since July

[I]  Shaving Milliseconds Off Currency Trades Could Make Singapore Billions

[I]  Policy Doubts Rise as BOJ's Price Goal Recedes Into the Distance

[I]  Central Banks' Club of Caution Grows as Bad News Piles Up

 

WALL STREET JOURNAL

[I]  What to Watch in the First-Quarter GDP Report

[I]  U.S. Durable Orders Rose 2.7% in March, Faster Than Expected

[I]  U.S. Jobless Claims Rose Last Week

[I]  High-School Graduates Flock to College Even in Strong Job Market

[I]  Homeownership Rate Drops for First Time in More Than Two Years

[I]  Moore Hopeful for Fed Post, but Says He Would Bow Out If He Becomes Liability

[I]  Real Time Economics: Getting Ready for First-Quarter GDP

 

BUSINESS LINE

[I]  US official insists on zero oil imports from Iran

[I]  Women in Marathwada go against the grain

[I]  More uncertainties ahead for global economy

[I]  Foodgrain target for 2019-20 set at 291 million tonnes

[I]  Developments in fintech space give fresh impetus to financial inclusion: RBI chief

[I]  High fuel prices may have slowed auto sales: RBI paper

[I]  Indian car terrain will see companies hunting in pairs

 

ECONOMIC TIMES

[I]  Final nail in the coffin: India may soon put a blanket ban on cryptos

[I]  Big MNCs under lens for GST profiteering

[I]  Why homeowners are turning into amateur builders

[I]  Rupee falls below 70-mark against dollar amid weakness across EM currencies

[I]  UK, India experts explore smart tech solution for Indian farmers

[I]  Commerce department plans to defer raising duty on 29 US goods

[I]  Indian investment in UK on rise despite Brexit: Report

[I]  Divergent AAR rulings on GST on AMCs put industry in a fix

[I]  RBI plans to attract more foreign capital for nation-building

[I]  View: Time for India to pursue economic policies that have borne fruit across the world

 

BUSINESS STANDARD

[I]  RBI deputy governor B P Kanungo bats for capital account liberalisation

[I]  India's crude oil production drops 4.15% to 34.2 million tonne in FY19

[I]  Karnataka iron ore mines stuck with 6.5 million tonnes of unsold inventory

[I]  Income-tax dept likely to propose using calendar as financial year

[I]  Global iron ore prices to rise 11% on supply disruptions, China stimulus

[I]  Do the rich and powerful think that they can remote control us, asks SC

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11732;  USDINR DGCX:--;  DJIA Mini: 26398;  FTSE 100 Fut: 7386;  NIKKEI 225 Fut: 22082;  EUR-USD: 1.1135; Crude Oil (WTI): 64.87;  Gold (Spot): 1280

 

Best Regards, ARBIND

26 Apr 2019