MACRO ECONOMIC NEWS

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Macro Economic News 30 Apr 2019

 

Indian consumers face post-election fuel price shock, economy could be hit. Federal Reserve officials meet this week more confident that the economy has shaken off recession worries that sent markets reeling late last year, but they face a new quandary about slowing inflation. Treasury Secretary Steven Mnuchin suggested that trade talks with China could be wrapped up by the end of next week, following two more rounds of negotiations. U.S. inflation picked up in March but remained well below the Federal Reserve’s 2% target, highlighting the central bank’s struggles to foster reliable price growth even in a strong economy.  A growing number of women are taking jobs in blue-collar roles. The share of truck drivers, electricians, plumbers and mechanics who are women recently touched the highest level in at least 25 years.  

FINANCIAL TIMES

[I]  Iran’s economy slumps as US sanctions bite

[I]  Spain’s Socialists seek to govern alone after poll win

[I]  UK advisers to recommend net zero emissions by 2050

[I]  Australia’s fringe parties become political power brokers

[I]  China developers’ dollar debt spooks investors

[I]  Local government and national debt are different

[I]  Dominant dollar insulates US against foreign currency movements

 

REUTERS

[I]  China April factory growth unexpectedly slows as economy struggles for traction

[I]  Australian dollar slips as China data hits risk

[I]  Growth in China's services activity slows in April: official PMI

[I]  Strong U.S. growth, weak inflation leave Fed stuck happily on hold

[I]  Oil dips as rising OPEC, U.S. output seen making up for Iran sanctions shortfall

[I]  EU hopes UK cross-party talks will break Brexit deadlock this week

[I]  U.S. senators urge regulators to quickly approve drone identification rules

[I]  UK consumers unfazed by Brexit storm, firms more upbeat - surveys

[I]  China April factory growth unexpectedly slows - official PMI

[I]  Strong U.S. growth, weak inflation leave Fed stuck happily on hold

 

BLOOMBERG 

[I]  Warning Signs Are Flashing in China's Stock Market After Surge

[I]  A Fleet of Tankers Is Hoarding Oil for a Gathering Storm

[I]  Australia Banks Set for ‘Messy’ Earnings After Misconduct Probe

[I]  U.S. Cuts Borrowing Estimate With Fed Slowing Balance Sheet Runoff

[I]  China Manufacturing Gauge Slips in April as Recovery Moderates

 

WALL STREET JOURNAL

[I]  Women Wanted: Blue-Collar Fields Find New Workforce

[I]  Inflation Is Likely to Fuel Discussion as Fed Officials Meet

[I]  Workers Finding Clients Through Online Platforms Aren’t Employees, Labor Department Says

[I]  Inflation Picks Up, but Still Below Fed’s 2% Target

[I]  U.S. Consumer Spending Rises in February, March

[I]  Mnuchin Suggests China Trade Talks Could Wrap Up by End of Next Week

 

BUSINESS LINE

[I]  School buses should not be money-making avenues for managements: Govt officials

[I]  US sanctions on Iran, rise in crude oil prices stoke inflation fears

[I]  Trade unions miffed over restrictions on May Day events

[I]  Ten customs reforms that will lift our trade

[I]  Telangana’s IT exports increase 17% in 2018-19

[I]  Exporters hope US will end ban on wild shrimp

[I]  Govt nominates seven RBI Directors to various PSBs

 

ECONOMIC TIMES

[I]  India may have found a way to tax footloose MNCs

[I]  An India-China move may soon change world order

[I]  Indian consumers face post-election fuel price shock, economy could be hit

[I]  Multi-state initiative in South India to help paddy farmers

[I]  Companies face queries over input tax credit claims

[I]  Election related uncertainty to weigh on economic activity: Report

[I]  Bad debt norms: RBI to seek Election Commission nod

 

BUSINESS STANDARD

[I]  Foreign retail investors, NRIs allowed to invest in GIFT City bourses

[I]  India notifies pact with US for exchange of reports on tax evasion by MNCs

[I]  Benign input cost likely to lift profit margins of domestic tyremakers

[I]  Japan's shrinking population leaves record 8 million homes empty

[I]  What oil at $100 a barrel would mean for the world economy

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11824;  USDINR DGCX:70.1800;  DJIA Mini: 26547;  FTSE 100 Fut: 7392;  NIKKEI 225 Fut: 22350;  EUR-USD: 1.1187; Crude Oil (WTI): 63.42;  Gold (Spot): 1282

 

Best Regards, ARBIND

30 Apr 2019