MACRO ECONOMIC NEWS

HAPPINESS IS TO EMBRACE LIFE WITH SMILE. WISHING A CUDDLING DAY AHEAD.

Macro Economic News 04 Jul 2019

 

RBI is expected to regulate housing finance firms, review assets. India will, most likely, allow the budget deficit to rise. U.S. Trade Gap Widens by More Than Forecast to Highest in 2019. Activity in the U.S. services sector pulled back in June, suggesting the economy is reverting to a slower but steady pace of growth after a strong 2018. The U.S. trade gap widened sharply in May despite a new round of tariffs on Chinese goods that took effect in the first half of the month. The number of Americans applying for first-time unemployment benefits fell last week, a sign firms are reluctant to let workers go as hiring has slowed this year.

 

FINANCIAL TIMES

[I]  Global bonds rally on Lagarde ECB nomination

[I]  China accuses UK of ‘gross interference’ over Hong Kong

[I]  Lagarde set to inherit lingering Draghi influence at ECB

[I]  Italy dodges EU budget disciplinary process

[I]  Italy registers lowest number of births since at least 1861

 

REUTERS

[I]  RBI to regulate housing finance firms, review assets: sources

[I]  Dollar on back foot over expectations a Fed rate cut is coming

[I]  Australian government set to secure support for $110 billion tax cut plan

[I]  New U.S. census turmoil as Trump again pursues citizenship question

[I]  India likely to let budget deficit rise

[I]  Modest rise in Indian military spending likely, modernisation on hold

[I]  India's budget likely to hike spending to combat slumping growth

[I]  IMF board approves $6 billion loan package for Pakistan

[I]  Premium prices attract small farmers back to coffee growing in Zimbabwe

[I]  Going for growth, India set to borrow more - economists

 

BLOOMBERG 

[I]  U.S. Trade Gap Widens by More Than Forecast to Highest in 2019

[I]  Unstoppable Hong Kong Dollar Surges to Strongest in Two Years

[I]  Biggest Tax Shake-Up in a Decade Will Benefit 10 Million Australians

[I]  U.S. Bond Traders May Want to Rethink Taking the Day Off Friday

[I]  Surge in Rupee Costs Risks Slowing Record Indian Fundraising

[I]  Easy Money Won't Keep China Bond Bulls Happy for Long

 

WALL STREET JOURNAL

[I]  China Knows What It Wants—the U.S. Still Doesn’t

[I]  U.S. Service-Sector Activity Slowed in June

[I]  U.S. Trade Gap Widened in May Despite Tariff Moves

[I]  Trump Taps Judy Shelton, Christopher Waller for Fed Board

[I]  EU Leadership Nominees Share Tough Stances on Tech, Trade

[I]  U.S. Jobless Claims Fall

 

BUSINESS LINE

[I]  Coming, DBT of minimum wages that will cover all

[I]  Pension regulator pins hopes on ‘EEE’ status for NPS

[I]  No Input Tax Credit for GST paid on expenses incurred on promotional schemes, rules AAR

[I]  Import, domestic production of pepper declined in 2018-19

[I]  Centre may get only a small slice of RBI surplus this fiscal

[I]  Study loans under priority sector dip 9.3% in one year

 

ECONOMIC TIMES

[I]  Cabinet approves higher MSP for Kharif crops

[I]  A risky game is on in India's private loan mkt

[I]  Peak of financial cycle indicate signs of stress: RBI study

[I]  Budget 2019: Going for growth, India set to borrow more, say economists

[I]  What is Economic Survey? Swaminathan Aiyar explains

[I]  Unemployment in India lower than in China and Asia Pacific, says minister quoting ILO report

[I]  Service sector growth contracts for first time in a year in June, PMI at 49.6

 

BUSINESS STANDARD

[I]  Investment data to be cleaned up after overstated jobs claims

[I]  Electric fleet companies help make business of small EVs viable

[I]  Budget should not affect value of rupee: Government to emissaries

[I]  RBI forms working group to review regulatory norms on core investment firms

[I]  Code on Wages Bill gets cabinet nod in a bid to revive labour law reform

[I]  CSR disclosure rules set to be tightened to increase accountability

[I]  India's market turnover among lowest globally, shows World Bank data

[I]  2.5% import duty waiver on iron ore lumps a cost relief for steel mills

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11944;  USDINR DGCX: 69.0350;  DJIA Mini: 26953;  FTSE 100 Fut: 7548;  NIKKEI 225 Fut: 21640;  EUR-USD: 1.1287; Crude Oil (WTI): 56.95;  Gold (Spot): 1419

 

Best Regards, ARBIND

04 Jul 2019