MACRO ECONOMIC NEWS

LETS MAKE OUR LOVE SO CHEAP THAT EVERYBODY CAN AFFORD IT. WISHING A BEAUTIFUL WEEKEND AHEAD.

Macro Economic News 04 May 2019

 

The outlook for India's rupee has deteriorated from just a month ago according to foreign exchange strategists polled by Reuters. India's sugar production could to a record 33 million tonnes, increasing inventories in the world's second-biggest producer. Gold demand was robust in India and Singapore this week as a correction in prices. U.S. job growth surged in April and the unemployment rate dropped to a more than 49-year low of 3.6 percent, pointing to sustained strength in economic activity even as last year’s massive fiscal stimulus fades. Top White House and Federal Reserve officials squared off over interest rates in a public clash over how to manage the economy at a time of strong growth and historically low unemployment. Growth in the services industries slowed for the second month in a row, but analysts think it could be a sign the economy is settling into a steady pace of growth.

 

FINANCIAL TIMES

[I]  Hiring surge pushes US jobless rate to 49-year low

[I]  Investors flock back to credit product blamed in crisis

[I]  UK retail banks’ recovery stalls after tough start to year

[I]  The UK auto industry fights for its place on the electric front

[I]  The flood of tech IPOs risks worsening inequality

[I]  Brexit drains £30bn from UK funds

 

REUTERS

[I]  U.S. lawmakers urge Trump administration to not end India's trade privileges

[I]  Cheers and screams as new Japan emperor greets the people for the first time

[I]  Brazil's far-right president nixes U.S. trip in face of protests

[I]  Turkey expects U.S. not to end preferential trade treatment

[I]  India to produce record sugar, stocks to rise further: trade body 

[I]  Lower prices, festive demand boost gold purchases in India, Singapore

[I]  Some U.S. Fed officials are more worried by weak inflation

[I]  Pakistani central bank governor and tax collection head sacked - sources

[I]  Hemmed in by sanctions, Venezuela central bank moves forex operations to cash

 

BLOOMBERG 

[I]  Fed Officials Diverge on Need for Possible Interest-Rate Cut

[I]  China Agrees Restructuring of Congo Republic Debt, Minister Says

[I]  Sovereign Debt Still a Risk for Italy Lenders, Central Bank Says

[I]  Puerto Rico Debt Repudiation Raises New Risks for Munis

[I]  Clarida Says Fed Can Be Data Dependent as Economy in Good Shape

[I]  OPEC and Your Gas Tank Offer Some Hope for a Stalled Crude Rally

 

WALL STREET JOURNAL

[I]  White House Escalates Feud With Fed

[I]  Paul Winfree Under Consideration for Federal Reserve

[I]  U.S. Hiring Jumped in April; Unemployment Falls to 3.6%

[I]  Jobs Report Won’t Alter Fed’s Wait-and-See Approach

[I]  Key Sector of Economy Is Slowing, But Economists Think It May Be a Good Thing

[I]  GOP Traditionalists Thwart Trump’s Push to Install Supporters at the Fed

[I]  Fed’s Bullard Says He Isn’t Ready for Rate Cuts

 

BUSINESS LINE

[I]  Big 4 audit firms barred from law practice

[I]  Tracking money: India Inc granted time till June to file one-time return on loans

[I]  Residential flats with parking, other facilities will attract lower GST, rules West Bengal AAR

[I]  A spike in hiring marks the March quarter for IT majors

[I]  Drought intensifies in Maharashtra

[I]  Basmati exports hit a new high in FY19 on Iranian purchases

[I]  Spice farming in North-East gets a ‘green cover’

[I]  With production till April at 321 lt, sugar output set for a new record

 

ECONOMIC TIMES

[I]  Sugar offtake to rise in May and June 2019, says ICRA

[I]  Oil falls on surging US output, set for second week of declines

[I]  Gold holds near 4-month low as rate-cut hopes dwindle

[I]  Politics to decide rupee's near-term fate: Poll

[I]  Bond yield rises as funds turn cautious

[I]  Ecommerce on agenda at Delhi WTO meet

[I]  India again extends retaliatory tariff deadline on US products till May 16

[I]  25 US lawmakers urge authorities not to terminate GSP benefits to India

[I]  Continued loss of biodiversity and ecosystems will undermine ability for poverty reduction

[I]  Finance Ministry to take call on bank recap after September

 

BUSINESS STANDARD

[I]  Used cars market expected to reach 6.7 to 7.2 million units by 2022: Report

[I]  Rout may not be over for Indian car stocks after losing $42 bn in value

[I]  London top choice for Indian investors with record investments in 2018

[I]  IBC resulted in recovery rate of 43%, figure is respectable: CRISIL

[I]  Sweet year ahead: Sugar sector outlook turns positive for next season

 

Best Regards, ARBIND
04 May 2019