MACRO ECONOMIC NEWS

SHARE YOUR SMILE WITH THE WORLD, YOU ARE JUST REBORN. WISHING A FRESH DAY AHEAD.

Macro Economic News 05 Apr 2019

 

The RBI cut its policy interest rate by 25 basis points, in a widely expected move to boost the economy. Economists surveyed by The Wall Street Journal expect the Labor Department to say employers added a seasonally adjusted 175,000 jobs. The U.S. and China are aiming to reach a trade deal in the next four weeks, President Trump said, though he failed to announce a much-anticipated summit with Chinese leader Xi Jinping. The number of Americans filing applications for new unemployment benefits fell last week to the lowest level in half a century, the latest sign of a tight labor market. German manufacturers saw orders drop sharply in February, increasing the likelihood that Europe’s flagship economy could contract in the first half of 2019 in a setback for a weakened continent.

 

FINANCIAL TIMES

[I]  China stimulus efforts show signs of stabilising economy

[I]  Changes to EU antitrust enforcement on Big Tech urged

[I]  German factory orders post biggest slump in two years

[I]  ECB tackles negatives of its interest rate policy

[I]  Trump walks back threat to immediately close Mexico border

[I]  Merkel vows ‘everything possible’ to avoid no-deal Brexit

[I]  Indian central bank cuts rates to boost growth

[I]  China state banks pull back from risky overseas projects

 

REUTERS

[I]  RBI cuts rates by 25 bps a week before voting begins

[I]  As Trump eyed Cain for Fed, Cain raised money for Trump

[I]  Dollar hits three-week high vs yen on trade optimism; U.S. jobs report in focus

[I]  Trump says U.S.-China trade deal may be reached in four weeks

[I]  As Trump eyed Cain for Fed, Cain raised money for Trump

[I]  ECB rate hike timing pushed further back again

[I]  Japan February real wages dip 1.1 percent year on year

 

BLOOMBERG 

[I]  China Hails ‘New Consensus’ on Trade as Trump Talks Up Unfinished Deal

[I]  May to Keep Alive the Option of Brexit Deal Referendum

[I]  Trump Says Herman Cain, Ex-Pizza Executive, Is in ‘Good Shape’ for Fed Seat

[I]  Japan Wages Drop Unexpectedly in Blow to BOJ's Inflation Efforts

[I]  Higher Earners in Britain Are Being Hit by Stealth Tax Increases

[I]  China Keeps Gorging on U.S. Pistachios Despite Big Tariff Threat

 

WALL STREET JOURNAL

[I]  Economists Expect Hiring Rise, Wage Gains in March Jobs Report

[I]  Trump Says U.S.-China Trade Deal Close

[I]  Trump Picks Herman Cain for Fed Seat

[I]  Jobless Claims Dropped to Lowest Level Since 1969

[I]  Fed’s Harker Sees at Most One Rate Rise in 2019, Another In 2020

[I]  Fed’s Mester Says Rate Increases Still Possible

[I]  German Manufacturing Slump Piques Fears Over Europe’s Flagship Economy

 

BUSINESS LINE

[I]  For 2nd time in 2019, RBI cuts repo rate by 25 bps

[I]  District-level ‘ease of doing business’ ranking to be launched soon: Prabhu

[I]  Committee on development of housing finance securitisation market to be set up

[I]  Liquidity tweak has potential to release Rs. 2.6-lakh crore over next four quarters

[I]  Banks get a breather on external benchmark of floating rate loans

[I]  Framework coming soon for timely resolution of customer grievances

 

ECONOMIC TIMES

[I]  Fitch not convinced with India's growth story

[I]  Now, Fitch flags high joblessness, rural distress

[I]  Close to meeting FY19 fiscal deficit target: Finance secretary

[I]  Indian businesses prepare to enter Kazakh market

[I]  FTA is key to resolving India-US trade disputes, says advocacy group

[I]  Donald Trump goes after India, calls it one of the highest taxing nations in the world

[I]  US likely to renew waivers to countries importing Iranian oil, including India

[I]  RBI lowers GDP growth forecast to 7.2% for 2019-20

[I]  RBI cuts inflation forecast to 2.9-3 per cent for H1 FY20

[I]  India's services sector output growth at six-month low in Mar: PMI

[I]  Taxmen use rare law to collect dues directly from bank accounts of evaders

 

BUSINESS STANDARD

[I]  RBI monetary policy: Repo rate lowered by 25 bps to 6% to boost growth

[I]  RBI to frame new rules on recasting bad loans after SC scraps circular

[I]  India's domestic air passenger traffic saw double-digit growth in Feb: IATA

[I]  No jobs? Hiring by services firms hit 6-month low in March, reveal PMI data

[I]  PE/VC investments up 26% in first quarter of 2019 at $10 billion

[I]  Finance Ministry wary of MFs' entry into commodity derivatives space

[I]  Consumers are getting optimistic about general economic situation: RBI

[I]  Falling corporate capital expenditure, slowing rural sales worry CEOs

[I]  Wholesale food inflation likely to dip in coming months, says report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11702;  USDINR DGCX: 69.2275;  DJIA Mini: 26420;  FTSE 100 Fut: 7343;  NIKKEI 225 Fut: 21783;  EUR-USD: 1.1225; Crude Oil (WTI): 62.01;  Gold (Spot): 1291

 

Best Regards, ARBIND
05 Apr 2019