MACRO ECONOMIC NEWS

HAPPINESS IS BEING WITH THE LOVED ONE FULLY. WISHING AN UNFORGETTABLE DAY AHEAD.

Macro Economic News 11 Jul 2019

 

Indian Cabinet approves bill to merge 13 labour laws into single code. Federal Reserve Chairman Jerome Powell sent a strong signal the central bank could cut interest rates this month by highlighting how the economic outlook hasn’t improved recently. Despite escalating tariffs between the U.S. and China, American imports of manufactured goods from China and 13 other Asian countries rose 9% in 2018 to $816 billion, the largest annual increase in nearly a decade and outpacing a 6% increase in domestic manufacturing gross output. The Bank of Canada kept its key interest rate unchanged at 1.75% and warned that global trade tensions could threaten Canada’s economic outlook following a recent pickup in domestic growth.

 

FINANCIAL TIMES

[I]  Sicily’s young people struggle to find jobs and training

[I]  Fed chair cements case for cut in interest rates

[I]  Trump softened Hong Kong protest stance to revive trade talks

[I]  Australia plans referendum on indigenous recognition 

[I]  Global investment in clean energy slides

[I]  China VC investment in south-east Asia surges fourfold

[I]  China’s car market set for second year of falling sales

[I]  India car sales plunge by a quarter as credit crunch bites

 

REUTERS

[I]  India receives above normal rains this week, spurring crop planting

[I]  Brazil pension overhaul bill wins by resounding margin in lower house

[I]  Domestic airfares soar in Indonesia despite government price cap

[I]  U.S. to probe French plan to tax tech companies

[I]  Europe should brace for U.S. tariffs on several fronts - German official

[I]  Euro zone growth, inflation outlook cut as risks from U.S. trade grow

[I]  Autos rebound helps UK economy in May, but weakness remains

[I]  Euro zone sees economic outlook worsening amid uncertain U.S. trade policy

 

BLOOMBERG 

[I]  Powell Sounds Dovish Enough to Open Door for a Half-Point Cut

[I]  Taiwan Is Home to the World's Fastest-Growing ETF Market

[I]  Powell Flags Cut, U.S. Defies China, Korea-Japan Woes: Eco Day

[I]  Buyers Return to U.K. Housing Market as Confidence Improves

[I]  Pakistan Wants to Help Brokers in World’s Worst Stock Market

 

WALL STREET JOURNAL

[I]  Powell Says Outlook Hasn’t Improved, Setting Stage for Rate Cut

[I]  Fed Saw Strengthening Case for Rate Cuts Last Month, Minutes Show

[I]  A Record Expansion’s Surprise Winners: The Low-Skilled

[I]  ‘Reshoring’ Report Finds Factory Work Not Returning to U.S.

[I]  Canada Central Bank, Holding Steady, Flags Trade Concerns

[I]  Real Time Economics: Powell to Testify, Boeing Falters and China’s Factories Confront Deflation

[I]  China Producer Prices Stall, Adding to Industry Woes

 

BUSINESS LINE

[I]  Auto sector stares at job cuts as sales continue to skid

[I]  India, Russia hold dialogue on enhancing bilateral ties

[I]  All workers to receive appointment letter; night-shift option for women

[I]  Bill to ban unregulated deposit schemes approved

[I]  Corporate funding for solar power up 11%: Report

[I]  Maharashtra rejigs maritime policy; extends concession licence periods

[I]  Kerala’s tea output falls 36% in April-June period

 

ECONOMIC TIMES

[I]  India's war on black money gets a major boost

[I]  RBI panel proposes extension of forex market timing

[I]  Healthy appetite for debt paper from emerging markets

[I]  Government may amend IBC laws in different spheres

[I]  Cabinet approves bill to merge 13 labour laws into single code

 

BUSINESS STANDARD

[I]  No question of rolling back surcharge on FPI trusts, says Finance Ministry

[I]  Student housing may get up to Rs 2-trn investment, PE funds bet on sector

[I]  Domestic auto sales skid 12% in June, no immediate respite likely

[I]  India Inc's FDI down over two times to $820 million in June, shows RBI data

[I]  Trade dispute India's top agenda during US officials visit to New Delhi

[I]  PMO calls for freezing of shell firms' bank accounts within two weeks

[I]  Good, bad and ugly of incentives by financial firms an investor must know

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11540;  USDINR DGCX: 68.4925;  DJIA Mini: 26907;  FTSE 100 Fut: 7491;  NIKKEI 225 Fut: 21590;  EUR-USD: 1.1273; Crude Oil (WTI): 60.63;  Gold (Spot): 1424

 

Best Regards, ARBIND
11 Jul 2019