MACRO ECONOMIC NEWS

HUMANITY IS THE DEEPEST OF ALL EMOTIONS. WISHING A HUMANE DAY AHEAD.

Macro Economic News 10 Apr 2019

 

European Union leaders will grant Prime Minister May a second delay to Brexit but they could demand she accepts a much longer extension as France pushed for conditions to limit Britain's ability to undermine the bloc. The IMF has cut its global growth outlook for 2019 to 3.3%, from 3.5% in January, with data showing world economic growth off to a worse start than was apparent earlier in the year. The Trump administration sought to play down its new plan to impose tariffs on $11.2 billion in imports from the EU, saying the move is part of a dispute over aviation subsidies, not an effort to apply pressure toward a possible EU trade deal. Job openings fell in February to the lowest level in nearly a year, a sign that demand for workers eased modestly in a month when hiring fell sharply.

 

FINANCIAL TIMES

[I]  France signals UK could stay in EU almost another year

[I]  Beijing and EU target next year for investment access deal

[I]  IMF cuts global growth forecast amid trade tension

[I]  Long Brexit pause makes sense for the EU and UK

[I]  EU should exploit its maritime industry’s advantage over China

 

REUTERS

[I]  Oil rises amid OPEC supply cuts, U.S. sanctions

[I]  Asian shares slip from eight-month peak as U.S. opens new front in trade war

[I]  New World Bank boss vows to keep climate goals, evolve China relationship

[I]  BOJ Kuroda: Inflation pick-up must be accompanied by wage hikes

[I]  Japan's February machinery orders rebound but investment outlook fragile

[I]  EU to agree Brexit delay but France pushes for conditions

[I]  U.S. senators introduce social media bill to ban 'dark patterns' tricks

[I]  Global economy cooling, coordinated stimulus may be needed: IMF

 

BLOOMBERG 

[I]  Trump Has a Message for the World: My Trade Wars Aren't Over Yet

[I]  Senate Banking Chairman Aligns With Trump on Fed Rate Cuts

[I]  China Home Sales Rebound in March

[I]  Italy's Government Forecast Has the Economy Effectively Stagnating This Year

[I]  Korean Breadwinners Hit Even as Overall Jobs Growth Rises

[I]  Trump Trade Warning, IMF Cuts Outlook, Aussie Wage Rage: Eco Day

[I]  Spreading Drought Adds to Risks for Thailand's Cooling Economy

 

WALL STREET JOURNAL

[I]  IMF Cuts 2019 Global Growth Outlook

[I]  U.S. Goes on the Offensive Against China’s Empire-Building Megaplan

[I]  U.S. Says Jet-Tariffs Threat Isn’t Tied to Broad EU Trade Push

[I]  Mnuchin Cautions on Brexit and U.S. Debt Default at House Hearing

[I]  Senate Republicans Skeptical of Cain’s Fed Confirmation Chances

[I]  Job Openings Fell by More Than 500,000 in February

[I]  Fed to Review Inflation Targeting, Policy Tools and Communications

[I]  New World Bank Head Vows to Uphold Climate-Change Policies

[I]  Real Time Economics: U.S.-EU Trade Tensions Escalate

 

BUSINESS LINE

[I]  State Bank of India lowers lending rate by 5 basis points across tenors

[I]  IMF cuts India growth forecast for 2019-20 to 7.3 per cent

[I]  Double tax avoidance pact is based on OECD model, says Mauritius

[I]  EV manufacturers want localisation criteria dropped under FAME II

[I]  Income Tax Dept looking at IBC resolution cases for possible tax violations

[I]  CAI trims cotton crop size to 321 lakh bales, lowest since 2009-10

[I]  Cottonseed prices gain 25%, making cattlefeed costlier

 

ECONOMIC TIMES

[I]  Dollar sags as commodity currencies draw support from crude oil surge

[I]  India's y-o-y cotton exports to fall by 31% in 2018-19, says CAI

[I]  Direct tax mop-up may fall short of Rs 50,000 crore in FY'19, says official

[I]  India meets fiscal deficit target of 3.4% via spending cuts

[I]  India to build developing country coalition with Brazil, China at informal trade ministers’ meet

[I]  US criticises India's data localisation norms, draft e-commerce policy

[I]  IMF cuts India’s growth forecast for 3 years

[I]  PSEs to stay PSUs even with below 51% government stake

 

BUSINESS STANDARD

[I]  M&A deals in India decline 16.9% to $25.8 billion in Q1, says report

[I]  Digital medium making 'rapid' strides in traditional sectors

[I]  561,100 housing units facing delays due to demand slowdown: Report

[I]  Capital goods and infrastructure firms report 19% slip in new orders

[I]  New hydropower policy could be last chance for revival of neglected sector

[I]  India delays May order for Iran oil, awaits clarity on US sanctions: Report

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 11713;  USDINR DGCX: 69.4775;  DJIA Mini: 26140;  FTSE 100 Fut: 7359;  NIKKEI 225 Fut: 21650;  EUR-USD: 1.1258; Crude Oil (WTI): 64.08;  Gold (Spot): 1302

 

Best Regards, ARBIND
10 Apr 2019