MACRO ECONOMIC NEWS

PATIENCE IS GODLY, PERSEVERANCE IS HEAVENLY. WISHING A DIVINE DAY AHEAD.

Macro Economic News 07 Aug 2019

 

India Inc has turned in its most disappointing quarterly numbers in at least three years and analysts warn hopes for any festive season cheer are likely to be dashed by a slowing economy. U.S. President Donald Trump dismissed fears of a protracted trade war with China despite a warning from Beijing that labelling it a currency manipulator would have severe consequences for the global financial order. EU stands firm as UK heads for no-deal Brexit. German economy shows glimmer of hope as factory orders jump. US credit card interest rates hit 25-year high. New Zealand's central bank stuns markets with 50-bp rate cut.

 

FINANCIAL TIMES

[I]  US has few tools to weaken the dollar

[I]  EU stands firm as UK heads for no-deal Brexit 

[I]  China ramps up rhetoric on Hong Kong crisis

[I]  China warns US against deploying missiles on its ‘doorstep’

[I]  German economy shows glimmer of hope as factory orders jump

[I]  Trump slaps new sanctions on Venezuelan government

[I]  Mozambique peace pact boosts chance of unlocking gas riches

[I]  US credit card interest rates hit 25-year high

 

REUTERS

[I]  Exclusive: Tens of thousands losing jobs as India's auto crisis deepens - sources

[I]  Dollar falls versus yen, offshore yuan slips on trade woes

[I]  New Zealand's central bank stuns markets with 50-bp rate cut

[I]  BOJ flagged need to discuss ideas on easing, meeting summary shows

[I]  China to remove soybean oil, rapeseed oil, palm oil import quotas

[I]  Fragile calm returns to stock markets as yuan steadies

[I]  Trump dismisses fears of long-lasting trade war; China sees severe global impact

[I]  India Inc earnings disappoint, analysts warn of gloomy festive season

[I]  U.S. labor market slowing as job openings, hiring fall

[I]  Gold Tops $1,500 as Investors Seek Shelter From Gathering Storm

[I]  Widening Trade Rift Means Rally in Emerging Markets Is All But Over

[I]  China Builders Weaken Debt Safeguards as Investors Chase Yield

 

BLOOMBERG 

[I]  U.S. Slaps Duty on $4.4 Billion of China Cabinets Amid Trade War

[I]  Hong Kong Assets Turn Toxic as Trade War and Protests Cloud Outlook

[I]  Barneys, Near Death Days Ago, Juggles Multiple Rescue Bids

[I]  India, Philippines to Cut as Thailand Waits: Rate Decision Guide

[I]  Treasury Curve Signals Disappointment With Bullard’s Message

[I]  Yuan Weakens After Central Bank Sets Fixing Closer to 7 a Dollar

[I]  Gold Tops $1,500 as Investors Seek Shelter From Gathering Storm

 

WALL STREET JOURNAL

[I]  U.S. Designates China as Currency Manipulator

[I]  Why the U.S. Labeled China a Currency Manipulator and What It Means

[I]  China Deals ‘Body Blow’ to Struggling U.S. Farm Belt

[I]  China Isn’t Manipulating the Yuan—It’s Waiting Out Trump

[I]  After Rate Cut, Trade Headwinds Complicate Outlook for Fed Officials

[I]  San Francisco Fed Official Is Focused on Trade Tensions

 

BUSINESS LINE

[I]  Declining rural demand hits FMCG sector

[I]  Credai says consolidation is key for real estate industry as prospects look bright

[I]  Government’s EV push has oil industry worried

[I]  ‘Low’ intensifies, may grow to near-cyclone strength

[I]  Economy slowdown: FIDC urges FM to convene meeting with NBFC sector

 

ECONOMIC TIMES

[I]  Copper sends a message to markets that growth is already wrecked

[I]  Govt likely to shelve plan for overseas bonds, will first fix the slowdown

[I]  India, Israel explore new areas of cooperation to boost financial ties

[I]  IIP base, methodology review in the works

[I]  CII proposes policy agenda to spur economic growth in J&K

[I]  High interest rates, loan disbursals top MSME concerns

 

BUSINESS STANDARD

[I]  NCAER sees GDP growth at 6.2% on flat agriculture gross value added

[I]  Govt to take 6 months to divide J&K Bank assets, liabilities and ownership

[I]  Markets recover before RBI policy; yuan, hopes of rate cut buoy sentiment

[I]  Brand endorsers under watch as Rajya Sabha passes new consumer Bill

[I]  Fixed deposits promise steady returns for two-three year investment horizon

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10923;  USDINR DGCX: 71.1700;  DJIA Mini: 25756;  FTSE 100 Fut: 7086;  NIKKEI 225 Fut: 20380;  EUR-USD: 1.1216; Crude Oil (WTI): 53.52;  Gold (Spot): 1487

 

Best Regards, ARBIND
07 Aug 2019