MACRO ECONOMIC NEWS

JUST LIVING FOR THE MOMENT IS EXCELLENT FOR TODAY AND TOMORROW TOO. WISHING AN ASTONISHING DAY AHEAD.

Macro Economic News 02 May 2019

 

FED agreed to hold their benchmark interest rate steady and noted some key economic activity had slowed during the first quarter. The Federal Reserve’s tool kit for controlling interest rates is facing a challenge that could prompt changes in the mechanics of how the central bank influences the economy. It’s time to stop worrying that robots will take our jobs. But as millions of low-paid workers’ lives are increasingly governed by software, it may be time to start worrying that robots will determine who gets those jobs. The government risks not being able to pay its bills on time later this summer or fall unless Congress acts to raise the federal borrowing limit, the Treasury Department said.

 

FINANCIAL TIMES

[I]  Fed chair rules out immediate rate moves

[I]  Venezuelan coup attempt stalls as military digs in

[I]  Activists target US oil patch’s trustees for life

[I]  Both sides would suffer in new EU-US trade clash

[I]  The UK needs to change its approach to forensics

[I]  Japan has problems that the BoJ cannot solve

 

REUTERS

[I]  India launches mass evacuation, shuts down ports as cyclone bears down

[I]  Dollar underpinned in Asia as Fed clips doves' wings

[I]  U.S. Fed sees no strong case for hiking or cutting rates

[I]  Oil dips as U.S. output hits record, but global markets remain tight

[I]  Bank of England to keep rates steady, despite Brexit delay

[I]  U.S., China reported near deal to end some tariffs; talks 'productive'

 

BLOOMBERG 

[I]  Powell's ‘Transitory’ Factors Don't Explain the Full Inflation Story

[I]  Shock-Like Reform Is Needed Again for Korea to Compete Globally

[I]  Powell Pushes Back, Poloz Still Talking Tough, RBA Live: Eco Day

[I]  BOE Stuck on Hold as Brexit Delay Kicks in: Decision Day Guide

[I]  Hong Kong Interbank Rates Seen Staying High, Buoying Dollar

 

WALL STREET JOURNAL

[I]  Fed Holds Rates Steady, Signals Concern Over Sluggish Spending, Low Inflation

[I]  Upward Move on Key Market Rate Could Bring Fed Response

[I]  For Lower-Paid Workers, the Robot Overlords Have Arrived

[I]  U.S. Factory Activity Slows in April

[I]  Government Could Run Out of Cash in Second Half, Treasury Says

[I]  U.S. Private Sector Surpasses Expectations in April

[I]  A Case for Lower Rates Still Lurks

[I]  Parsing the Fed: How the May Statement Changed From March

[I]  Real Time Economics: What Is Wage Growth Telling Us About the Labor Market?

 

BUSINESS LINE

[I]  South, N-E States top poverty-busters league

[I]  Against the odds, Centre forging ahead with ambitious river-interlinking project

[I]  ‘Extremely severe cyclone’ Fani bears down on Odisha

[I]  India’s e-commerce potential greater than China’s, says retail expert

[I]  Automakers stuck on slow lane in April

[I]  Global smartphone shipments fell 5% in first quarter: Report

[I]  Most customers upset over service charges levied by banks: RBI study

 

ECONOMIC TIMES

[I]  As US curbs kick in today, India braces for life with costly crude

[I]  Indians are slowly losing their love for cars

[I]  View: Companies should value workers like shareholders

[I]  GST collection jumps to Rs 1.13 lakh crore in April, the highest since its rollout

[I]  India, Iran may hold next round of negotiations for trade agreement in May

[I]  India apprehensive Iran sanctions could boost oil prices, inflation

[I]  ADB plans to fund Rs 30,000 cr Delhi-Meerut rapid rail corridor, 4 metro projects

 

BUSINESS STANDARD

[I]  Tough life ahead for NBFCs as RBI set to tighten liquidity mismatch limits

[I]  Indirect tax board asks officials to file review pleas on export scheme

[I]  UPI volume dips 2% to 782 mn in April, value of transactions up 6%: NPCI

[I]  Cotton import may rise 80% this year due to drought in major growing states

[I]  Iraq remains India's top oil supplier in FY19, imports from US up 4-folds

[I]  LPG, ATF prices hiked for third time this year on firming global rates

[I]  Banks loosen purse strings for corporate sector; lending picks up in FY19

[I]  MF exposure to stressed derivatives strategies firms at over Rs 20,000 cr

[I]  India, Iran may hold next round of talks for trade agreement in May

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11789;  USDINR DGCX:69.9500;  DJIA Mini: 26402;  FTSE 100 Fut: 7302;  NIKKEI 225 Fut: 22350;  EUR-USD: 1.1201; Crude Oil (WTI): 63.41;  Gold (Spot): 1274

 

Best Regards, ARBIND
02 May 2019