MACRO ECONOMIC NEWS

GOD GIVES US THE DREAM THAT MATCHES OUR ABILITY. WISHING A POISED DAY AHEAD.

Macro Economic News 31 Jul 2019

 

The Reserve Bank of India relaxed norms on end-use of funds raised via external commercial borrowings, making it more attractive and viable for corporates including non-banking finance companies to raise cheaper offshore funds. U.S. consumers continued to spend and maintained confidence heading into the summer while inflation remained soft, according to data that will likely reinforce the Federal Reserve’s expected decision to lower interest rates. The growth of U.S. home prices slowed again in May, as the housing market continues to moderate during what has been a relatively weak year for sales. Chinese and U.S. negotiators resumed trade talks, taking tentative steps to overcome mutual mistrust and limited political appetite for a breakthrough agreement after weeks of recriminations. Bank of Japan holds rates but vows easing if economy falters.

 

FINANCIAL TIMES

[I]  Trump unsettles markets by taking aim at Fed and China

[I]  German court hears case against ECB bond-buying

[I]  French growth dip underlines challenges for Macron

[I]  BoJ holds rates but vows easing if economy falters

[I]  Australia probes fast-track visas for Chinese gamblers 

[I]  A wealth tax will not solve US inequality

 

REUTERS

[I]  Hong Kong's second-quarter GDP growth seen firmer, but trade war, protests to bite

[I]  RBI relaxes external commercial borrowing norms for corporates, NBFCs

[I]  China probes small bank shareholdings as risk worries persist

[I]  Mood darkens for UK's smaller manufacturers, consumers stoic

[I]  Sri Lanka to offer free visas on arrival to boost tourism

 

BLOOMBERG 

[I]  Trump Lashes Out at China ‘Rip Off’ as Trade Talks Resume

[I]  China's Profit Warnings Signal More Gloom for the Economy

[I]  Thai Baht Is Expected to Survive the Central Bank's Push to Restrain It

[I]  Singapore’s Rich Kids End Up With Penthouses as Parents Skirt Taxes

[I]  Trump Demands Large Fed Cut, Attacks `Rip-Off' China: Eco Day

[I]  Gold Bulls Look Beyond Fed as Growth Slows, Recession Risks Rise

[I]  Expiration of a Qualified Mortgage Rule May Hurt Housing Prices

 

WALL STREET JOURNAL

[I]  Confident Consumers Keep Spending Amid Soft Inflation

[I]  Mortgage Rates Were Falling Before Fed Signaled Rate Cut

[I]  Undeclared Currency War: How ECB Forces Fed’s Hand

[I]  Home-Price Gains Continued to Slow in May

[I]  U.S.-China Trade Talks Resume With No Breakthroughs in Sight

[I]  Federal Borrowing Soars as Deficit Fear Fades

[I]  Trump Says He Wants a Large Cut in Interest Rates

 

BUSINESS LINE

[I]  MPEDA bets big on exports of live seafood by air

[I]  Rising cost of production spoils the tea party

[I]  Study suggests return to traditional methods to tackle agri challenges

[I]  Strong monsoon causes low-pressure area over East Madhya Pradesh

[I]  Indian fertiliser sector’s record on water pollution is a cause for concern: CSE

 

ECONOMIC TIMES

[I]  Why India shouldn't bail out its shadow banks

[I]  India received highest-ever FDI worth USD 64.37 billion in FY19

[I]  India likely to import 2.5 million tonne palm oil from Malaysia

[I]  'GSP withdrawal: No impact on exports to US yet,up 8.5% in June'

[I]  Turmeric exports hit by US sanctions against Iran

[I]  World merchandise trade up 3% in 2018, lower than 4.6% growth in 2017: WTO

[I]  Private e-portals to book government trips soon

[I]  Initial list of central public sector enterprises drawn for buybacks

 

BUSINESS STANDARD

[I]  RBI allows domestic banks to sell NPAs abroad as one-time settlement

[I]  Stunted FY20 volume growth to hurt Escorts; net profit may see a 20% fall

[I]  Tech Mahindra Q1 net profit up 6.8% to Rs 959 crore, revenue rises 4.6% YoY

[I]  Real estate attracts $34 billion PE investment since 2014: Report

[I]  2 years after roll-out, GST glitches still exist, says CAG report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11053;  USDINR DGCX: 69.1025;  DJIA Mini: 27209;  FTSE 100 Fut: 7587;  NIKKEI 225 Fut: 21460;  EUR-USD: 1.1153; Crude Oil (WTI): 58.46;  Gold (Spot): 1428

 

Best Regards, ARBIND
31 Jul 2019