MACRO ECONOMIC NEWS

GOD IS BY OUR SIDE; TOGETHER WE HAVE JOY, HAPPINESS AND LAUGHTER. WISHING A DELIGHTFUL WEEK AHEAD.

Macro Economic News 05 Aug 2019

 

Across India, dealerships are being pushed out of business and the Indian auto sector is going through its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% - the sharpest recorded fall in 18 years. Japan is conducting an intriguing experiment in mass psychology, as history shows consumers take such tax increases so badly that many economists say this treatment for the country’s fiscal woes just isn’t worth prescribing. The standoff between Washington and Beijing has cost China its position as the U.S.’s top trading partner, a shift that could accelerate as President Trump moves to ratchet up tariffs even more.

 

FINANCIAL TIMES

[I]  EU picks adroit handler of policy and people for IMF

[I]  US retailers shed 50,000 jobs as boom bypasses stores

[I]  US and China investors battle over Indian digital payments boom

[I]  Germany is replaying Britain’s Brexit debate

[I]  Renewables are good money, not just good for the earth

[I]  Latest US tariffs reflect a new cold war mentality

 

REUTERS

[I]  Japanese automakers' sales slump in South Korea as boycott bites

[I]  China July services sector grows at slowest pace in five months: PMI

[I]  Japan service sector growth eases on tempered optimism, job creation: PMI

[I]  How a shadow banking crisis sent India's autos sector into a tailspin

[I]  India seen set for fourth interest rate cut of 2019

[I]  Zimbabwe increases fuel price again amid shortages

[I]  U.S. hiring slows; shorter factory workweek a red flag

 

BLOOMBERG 

[I]  Japanese Investors Chase 15% Yields All the Way to Turkey

[I]  Abrupt Ousters, Public Missteps Sink Morale Inside New York Fed

[I]  World's Biggest Banks Sink to Record Lows as China Pain Spreads

[I]  Suspicions of Iran Sanctions Breach Spark China Tanker Seizures

[I]  China's Yuan Tumbles Past 7 Per Dollar for First Time Since 2008

[I]  Hong Kong Stocks Set to Match Longest Losing Streak Since 1997

[I]  RBA Keeps Rate-Cut on Cards to Shield Aussie From Global Easing

 

WALL STREET JOURNAL

[I]  Where Rolling Out a Sales-Tax Bump Requires a Certain Finesse

[I]  Economy Week Ahead: Services-Sector Activity, Job Openings

[I]  Tariff Fight Knocks Off China as Top U.S. Trading Partner

[I]  U.S. Added Jobs at Steady Pace in July

[I]  Jobs Report Does Little to Clarify Fed Outlook Muddled By Escalated Trade Tensions

[I]  U.S. Consumers Remained Positive in July

[I]  Two Fed Officials Say Economy Didn’t Justify Lowering Rates

 

BUSINESS LINE

[I]  ₹25,000-cr tenders cancelled or modified to promote 'Make in India' products

[I]  Slowdown cyclical, growth will pick up in next few years: Bimal Jalan

[I]  India needs to grow at 9 per cent to achieve PM’s target of $5-trillion economy: EY

[I]  Slowdown cyclical, growth will pick up in next few years: Bimal Jalan

[I]  2 lakh laid off in last 3 months by auto dealers, says FADA

[I]  India may say no to RCEP pact if its demands on services, goods are not met

[I]  Centre may cut e-visa fee to attract more tourists

 

ECONOMIC TIMES

[I]  National Population Register to have Aadhaar details

[I]  Govt readies booster dose for clean energy

[I]  Small towns spell big wins for ecomm firms

[I]  India needs to grow at 9% to achieve PM's target of USD 5 trillion economy: EY

[I]  Import dependence rises as crude oil & gas output declines

[I]  Government to launch Rs 3,000 cr projects in 100 days in Northeast

[I]  Government working on policy to help consumers dispose of junk

 

BUSINESS STANDARD

[I]  CEOs bank on festive cheer; India Inc hopes for improvement in second half

[I]  Govt moves SC to make NCLT judges stick to deadline for resolving cases

[I]  Client-specific risks a trip factor for IT companies, says analyst

[I]  Economic slowdown is cyclical; growth will pick up in 1-2 yrs: Bimal Jalan

[I]  Street signs: Equity MFs cut exposure, IPO grey market activity, and more

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10937;  USDINR DGCX: 69.8950;  DJIA Mini: 26230;  FTSE 100 Fut: 7255;  NIKKEI 225 Fut: 20570;  EUR-USD: 1.1122; Crude Oil (WTI): 55.27;  Gold (Spot): 1449

 

Best Regards, ARBIND
05 Aug 2019