MACRO ECONOMIC NEWS

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Macro Economic News 07 Jun 2019

 

Central banks across globe are synchronising for monetary easing. RBI cuts interest rate to 9-year low. Emerging market investors will be more cautious and selective in making risky bets against a strong dollar in coming months as fears over the United States' aggressive trade policy rattles markets, a Reuters poll found. U.S. President Donald Trump said he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after a meeting of leaders of the world's largest economies late this month. One month ago, Federal Reserve Chairman Jerome Powell played down speculation of an interest-rate cut this summer. Now officials face a darker economic outlook, making such a move possible. The economy is churning out jobs and wages are rising. But employers face headwinds, such as trade tensions and slowing global growth that could slow hiring.

 

FINANCIAL TIMES

[I]  Draghi prepares fresh stimulus as economic fears grow

[I]  Draghi seeks to shape policy beyond his term

[I]  Trump officials push on with Mexico tariffs plans

[I]  Macron urges Trump to stick with western allies

[I]  India cuts interest rate to lowest level in 9 years 

[I]  Brussels acts over EU single market failings

[I]  South Korea defends economic restructuring

[I]  Limits of China’s online education boom start to show

 

REUTERS

[I]  RBI cuts rates, turns 'accommodative' as economy slows

[I]  UK opposition Labour fights off Brexit Party to retain parliament seat

[I]  Japan's household spending, wages weakness cloud economic outlook

[I]  'Balancing act' for emerging market currencies ahead

[I]  Rupee outlook worsens on trade war, growth risks

[I]  China's exports, imports seen shrinking as tariffs bite

[I]  Trump to decide on $300 billion China tariffs after G20 meeting

[I]  UK's Hammond takes case for digital sales tax to G20 meeting in Japan

[I]  Japan household spending rises but wages down in April

[I]  Indian rupee outlook worsens on trade war, growth risks: Reuters poll

 

BLOOMBERG 

[I]  Investors Signal Draghi Is Running Out of Time and Ammunition

[I]  Fitch Cuts Pemex to Junk as Markets Lose Faith in Rescue

[I]  Here's What to Watch at the G-20 Finance Meetings This Weekend

[I]  U.S. Yields Will Hit Record Lows by Year-End, Commerzbank Says

[I]  Indonesia Rate Cut Depends on Timing, Deputy Governor Says

[I]  Tariff Waiting Game, Draghi Talks Tough, G-20 Preview: Eco Day

[I]  Come On, Join the Club! Central Banks Turn to Interest-Rate Cuts

[I]  Investors Are Deserting Junk Bonds as Trade Tensions Sour Mood

 

WALL STREET JOURNAL

[I]  Fed Begins Debate on Whether to Cut Rate as Soon as June

[I]  ECB Raises Prospect of Rate Cut

[I]  Five Things to Watch in the May Jobs Report

[I]  U.S., Mexico Make Progress on Migration Issues, but Tariffs Still Loom

[I]  Household Net Worth Rose 4.5% in First Quarter

[I]  Rise in U.S. Worker Productivity Could Be Difficult to Maintain

[I]  U.S. Trade Gap Narrowed in April

 

BUSINESS LINE

[I]  To boost economy, RBI cuts repo rate by 25 bps to 5.75%

[I]  NITI Aayog revamped

[I]  Digital push: Transfers via RTGS, NEFT made free

[I]  Despite crisis, large NBFCs see rise in public deposits

[I]  Review of liquidity management framework could boost transmission

[I]  Lowering leverage ratio threshold can offer banks leeway to expand their balance sheet

[I]  We are closely monitoring NBFC sector to ensure financial stability: Shaktikanta Das

 

ECONOMIC TIMES

[I]  Can RBI policy be the blueprint for world's central banks?

[I]  Sebi has a plan to keep rating cos in check

[I]  India may ask Ola, Uber to take green route

[I]  Food Corporation of India's facelift on the anvil

[I]  India-China trade to cross USD 100 billion this year: Envoy

[I]  India lost USD 13 billion to trade misinvoicing: Report

[I]  Govt looks to cut export sops, boost infra, credit

[I]  India’s economy to grow 7.3% in 2019, 7.5% in 2020: G-20 note

[I]  RBI cuts interest rate to 9-year low; 10 key takeaways

 

BUSINESS STANDARD

[I]  Banks likely to cut lending, deposit rates by 20 bps in four months

[I]  Media & entertainment industry pegged at Rs 4.5 trillion by 2023

[I]  Indices give thumbs down to RBI rate cut, expected liquidity measures

[I]  India will not push for GSP benefits from US, says Piyush Goyal

[I]  Amendment to Competition Act on cards to rein in digital companies

[I]  RBI allows on-tap licensing of SFBs to drive financial inclusion

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11861;  USDINR DGCX: 69.2275;  DJIA Mini: 25774;  FTSE 100 Fut: 7274;  NIKKEI 225 Fut: 20880;  EUR-USD: 1.1268; Crude Oil (WTI): 53.25;  Gold (Spot): 1337

 

Best Regards, ARBIND

07 Jun 2019