MACRO ECONOMIC NEWS

FRIDAY FAVOURS THE FEARLESS; SOMETIMES SMILE STOUTLY. WISHING AN APPEASING DAY AHEAD.

Macro Economic News 02 Aug 2019

 

India's factory activity accelerated in July as domestic demand and output strengthened, encouraging firms to hire at the fastest rate in five months, a private business survey. IMD forecasts normal rains for August, Sept Gold demand in India up 13% despite volatile prices. Global stocks took another beating while investors piled on to safe-haven assets after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month. The flow of investment money between China and the U.S. continued to fall in the first half of 2019 as trade tensions took their toll. Bank of England cuts growth forecasts as Brexit and global worries mount.

 

FINANCIAL TIMES

[I]  EU ministers set to vote on Europe’s IMF candidate

[I]  Brexit uncertainty spurs BoE to cut growth forecasts

[I]  Asian economies gripped by manufacturing woes

[I]  Japan set to remove South Korea from export ‘white list’

[I]  Car industry woes weigh on Germany’s prospects

[I]  Post-consumer spark of joy is perfect for today’s Japan

 

REUTERS

[I]  Japan's cabinet approves removal of South Korea from favored trade list

[I]  BOJ debated further easing if price outlook threatened: June minutes

[I]  With Fed's 'insurance' cut, Powell takes cue from Greenspan

[I]  Global markets: Trump's tariffs jolt global stocks, lift safe-haven assets

[I]  Trump hits China with more tariffs, says Xi moving too slow on trade

[I]  Stronger demand boosts India factory activity in July: PMI

[I]  Bank of England cuts growth forecasts as Brexit and global worries mount

[I]  Mexico's dependence on U.S. demand spells trouble for weak economy

 

BLOOMBERG 

[I]  Treasury Yields Dive to 2016 Levels as Trade War Escalates

[I]  U.S. Jobs Report to Offer Litmus Test for Fed After Rate Cut

[I]  Markets Confounded by BOE Brushing Aside Risk of No-Deal Brexit

[I]  Bond Bonanza to Help India Battle World's Worst Bad Loan Ratio

[I]  Global Economy Braces for a Fresh Trade Blow

[I]  China Bond Defaults Rebound Further in July

 

WALL STREET JOURNAL

[I]  Fed’s Conundrum: Can Lower Rates Combat Investment Chill

[I]  Senate Passes Two-Year Spending Deal That Suspends Debt Ceiling

[I]  Trump Threatens New Chinese Tariffs, Rattling Investors Across Markets

[I]  What to Watch For in the July Jobs Report

[I]  U.S. Jobless Claims Increased Last Week

[I]  U.S. Manufacturing Slipped in July

[I]  Fed Pick Shelton Says Other Countries Are ‘Cheating’ by Devaluing Currencies

[I]  U.S.-China Investments Continue to Decline

 

BUSINESS LINE

[I]  Banks free to have separate caps for lending to power, renewables sectors: RBI to Centre

[I]  Life insurance industry likely to see 14-15% growth: CARE

[I]  IMD forecasts normal rains for August, Sept

[I]  Gold demand up 13% despite volatile prices

[I]  Sugar glut forces farmers in Maharashtra to use cane as cattle fodder

 

ECONOMIC TIMES

[I]  More pain lies ahead for auto sector

[I]  Carmakers' Asia dream turns into nightmare

[I]  Bank credit up 12%, deposits 10.6%

[I]  India shuns trade war, export share grows

[I]  Count babies if you want to know where EM real rates are headed

[I]  GST mop-up rises to Rs 1.02 lakh crore in July

[I]  Crisil cuts India FY20 growth estimate to 6.9% on below normal monsoon, weaker corporate earnings

[I]  India's current economic problem not as bad as in 1991: Former RBI deputy governor Rakesh Mohan

[I]  Lok Sabha passes amendments to Insolvency and Bankruptcy Code

 

BUSINESS STANDARD

[I]  Auto sales in July fall for 9th consecutive month due to poor demand

[I]  Planning to buy e-vehicle? EV firms trim prices after GST breather

[I]  Govt e-commerce platform has more than twice the number of Flipkart sellers

[I]  Govt to issue overseas sovereign bonds in tranches: FinMin official

[I]  New green energy corridors witness 50% reduction in project costs

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10947;  USDINR DGCX: 69.4550;  DJIA Mini: 26485;  FTSE 100 Fut: 7427;  NIKKEI 225 Fut: 20980;  EUR-USD: 1.1075; Crude Oil (WTI): 55.07;  Gold (Spot): 1432

 

Best Regards, ARBIND

02 Aug 2019