MACRO ECONOMIC NEWS

THIS WEEK WILL MAKE US EXPERIENCE THE INTERNAL PEACE BY ACCEPTING THE THINGS AS IT IS. WISHING A SERENE WEEK AHEAD.

Macro Economic News 27 May 2019

 

The Japanese government downgraded its view of industrial production and other key parts of the economy, highlighting concerns about the U.S.-China trade dispute ahead of President Trump’s visit to Tokyo. The prospect of a "no deal" Brexit was fast becoming the central battle of the race to succeed Prime Minister Theresa May, as environment minister Michael Gove became the latest candidate to declare. Australia’s crumbling housing market looks set to stabilise over coming months as hopes of interest rate cuts and loosening of mortgage rules have boosted buyer inquiries, property and mortgage brokers say. The opaque process for finding a successor to European Central Bank President Mario Draghi is coming under scrutiny as the region faces economic and political turmoil.

 

FINANCIAL TIMES

[I]  Bitcoin hits all-time high in Argentine pesos

[I]  Centre-left slump renews pressure on Germany’s coalition

[I]  Ethiopian ethnic violence has forced almost 3m to flee homes  

[I]  Italy faces loss of ECB influence when Draghi leaves

[I]  North Macedonia pushes ‘compelling case’ for EU accession talks

[I]  Venezuela government and opposition resume Oslo talks

[I]  America’s ‘exorbitant privilege’ is Europe’s omission

[I]  Investors should be wary as funds switch structures

 

REUTERS

[I]  Oil prices stable amid OPEC supply cuts, but U.S.-China trade war drags

[I]  Pro-Europe vote fragments but limits nationalist gains in EU election

[I]  Carmakers FCA and Renault to go public on tie-up talks

[I]  Japan PM Abe says determined to show world strong alliance with U.S.

[I]  Bolsonaro supporters march to pressure Brazil's Congress

[I]  Iran will defend itself against any aggression, says foreign minister

[I]  Race to succeed UK PM May centres on 'no deal' Brexit battle

[I]  Foreign investors hope India dials back policy shocks after Modi win

[I]  Indonesia lifts social media curbs targeting hoaxes during unrest

[I]  Australia property sees ray of hope on looser mortgage rules, rate cut bets

[I]  Weak U.S. manufacturing underscores slowing economic growth

 

BLOOMBERG 

[I]  China Warns Traders of ‘Huge Loss’ If They Short the Yuan

[I]  Asia's Worst Currency Hammered as Funds Buy Foreign Stocks

[I]  China Boots More Bad Stocks in a Day Than It Did Most Years

[I]  Vietnam Culls 1.7 Million Pigs as Virus Spreads to New Areas

[I]  Draghi Has 10 Days to Gauge Recovery for ECB Stimulus Decision

[I]  China's First Bank Seizure Since 1998 Shows Hidden Loan Risks

[I]  China's April Industrial Profits Fall as Trade Standoff Worsens

[I]  Oil Holds Gain as U.S. Rigs Data Gives Respite From Trade Gloom

 

WALL STREET JOURNAL

[I]  U.S. Weighs Letting Companies Seek New Penalties Over Currency Manipulation

[I]  ‘Generation Jobless’ Looks Back on How Financial Crisis Shaped Careers

[I]  Poor Manufacturing Orders Point to Slower Economic Growth

[I]  Japan Downgrades Views on Its Economy

[I]  Haggling Begins Over Who Will Succeed ECB’s Mario Draghi

BUSINESS LINE

[I]  MFs await SEBI nod to iron out differences in dividend payouts in direct and regular plans

[I]  China proposes ASEAN+3 mega free trade agreement sans India, Australia and NZ

[I]  GST standard rates may not be merged any time soon

[I]  CBDT eyes 20% jump in tax kitty

[I]  What’s on the agenda for the power sector

 

ECONOMIC TIMES

[I]  America is about to hit Indian techies where it hurts the most

[I]  Integrated safety plan for women tops govt agenda

[I]  India, Japan, Sri Lanka move to counter China

[I]  At ‘courtesy meet’, finance minister, RBI governor take stock of economy

[I]  Maharashtra warns farmers of delayed monsoon

[I]  Government restricts bio-fuel imports

 

BUSINESS STANDARD

[I]  FMCG firms pin hopes on new govt's rural reforms for demand revival

[I]  EV journey to begin with hybrid technology in India: Honda

[I]  GST Council may meet next week; NAA extension likely to be on agenda

[I]  NITI Aayog comes up with new policy to ensure MSP, tackle farm distress

[I]  Land reforms, tax reduction: How Modi govt plans to spur economic growth

[I]  RBI risk draft may hit NBFCs; FIDC asks to address liquidity problem first

 

MARKETS (10:30 am)

[I]  SGX NIFTY Fut: 11888;  USDINR DGCX:69.5125;  DJIA Mini: 25615;  FTSE 100 Fut: 7263;  NIKKEI 225 Fut: 21160;  EUR-USD: 1.1209; Crude Oil (WTI): 58.36;  Gold (Spot): 1289

 

Best Regards, ARBIND

27 May 2019