MACRO ECONOMIC NEWS

MAY WE ALL EXPERIENCE THE BLESSING OF COMPASSIONATE EMPATHY, EVERY MOMENT. WISHING A CARING DAY AHEAD.

Macro Economic News 17 Sep 2019

 

India's current account and fiscal deficit could take a hit if oil prices continue to rise after an attack on Saudi Arabian oil facilities over the weekend, said the central bank chief. Banks' 2018-19 savings deposits up at Rs 39.72 lakh crore: RBI. Indian Govt reveals slew of measures to increase export credit to 30% in FY20. Deputy-level U.S.-China trade talks are scheduled to start in Washington on Thursday, the U.S. Trade Representative's office said, paving the way for high-level talks in October aimed at resolving a bitter trade war. The strikes on Saudi oil facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say. Economic activity in China cooled further in August, testing Beijing’s tolerance for slower growth as it seeks to ease trade tensions with the U.S. ECB prepared to cut rates again, says its chief economist. BOJ expected to hold fire this week after FED, ECB decisions. World Bank calls for agricultural productivity drive to cut poverty. Mortgage-Bond Rate Risk Surges Most Since 2010

 

FINANCIAL TIMES

[I]  Johnson frustrates EU with dearth of Brexit detail

[I]  Trump and Europe face Iran dilemma after oil attack

[I]  Fed wrestles with trade war and Saudi oil uncertainty

[I]  ECB prepared to cut rates again, says its chief economist

[I]  Outsiders seen as frontrunners in Tunisia election

[I]  World Bank calls for agricultural productivity drive to cut poverty

[I]  Chinese industrial output growth weakens again in August

 

REUTERS

[I]  Trump says he does not want war after attack on Saudi oil facilities

[I]  India's August inflation remains unchanged at 1.08%

[I]  Australia's central bank considered labor, housing markets when leaving rates at record lows: minutes

[I]  China says faces 'new challenges' in ozone layer protection

[I]  India's current account under threat if oil surge continues: RBI

[I]  U.S., Chinese trade deputy talks to start on Thursday: USTR

[I]  Attacks on Saudi oil facilities - what will it mean for consumers?

[I]  Exclusive: Germany wants to cap next EU budget at 1%, seeks more funds for climate and migration

 

BLOOMBERG 

[I]  Trump Says U.S., Japan Reach Initial Agreement on Tariffs

[I]  Oil Spike Another Reason for Fed to Cut Rates

[I]  Disrepair of U.S. Oil Reserve May Hamper Its Value in a Crisis

[I]  Wall Street May Get $40 Billion Reprieve From Trump Regulators

[I]  Why The Dominant U.S. Dollar Refuses To Go Away

[I]  China’s Home-Price Growth Slows for Third Month as Curbs Bite

[I]  BOJ Expected to Hold Fire This Week After Fed, ECB Decisions

[I]  Mortgage-Bond Rate Risk Surges Most Since 2010

 

WALL STREET JOURNAL

[I]  Saudi Oil Attack Is Unlikely to Dent U.S. Economy

[I]  Trump Again Pressures Fed in Wake of Saudi Attacks

[I]  China’s Economy Aches All Over as Beijing Seeks Trade Fix With the U.S.

[I]  Strong U.S. Dollar Prompts Speculation of Trump Intervention

[I]  Global Services Trade Also Set To Slow, Says WTO

[I]  In Comeback, Macron Steers Straight for Fresh Clash With Streets

[I]  Newsletter: Oil Prices Soar, Auto Workers Strike, China’s Economy Cools

 

BUSINESS LINE

[I]  Attack on Aramco’s plants could make petrol, diesel dearer by ₹1/litre

[I]  One more booster shot for economy this week

[I]  Only fiscal policy tool can address current economic slowdown: SBI

[I]  No oil supply shortage, Saudi Arabia assures India

[I]  Cost of credit for exporters to come down under expanded scheme, says Goyal

[I]  Scientists call for diversifying food production, consumption

 

ECONOMIC TIMES

[I]  'Rs 90,000 cr required for stressed housing units'

[I]  Dollar falls, oil-exporter currencies rise after Saudi attacks; yen firms

[I]  Government exempts cash payments above Rs 1 crore via AMPC from 2 per cent TDS

[I]  Banks' 2018-19 savings deposits up at Rs 39.72 lakh crore: RBI

[I]  August wholesale price inflation rate remains unchanged, eases on YoY basis

[I]  No need to inform government about gift received abroad if valued up to Rs 1 lakh

[I]  RBI Governor on PSB merger and lending mechanism with NBFCs

[I]  Can't talk of recovery yet, let's first see what Q2 shows: RBI Governor Shaktikanta Das

 

BUSINESS STANDARD

[I]  FinMin plans to release unspent money, boost demand amid economic slowdown

[I]  Drone attack on Saudi oil facilities: Biggest disruption in three decades

[I]  Crude shock: Rise in oil prices may deepen India's auto crisis, say experts

[I]  Public sector banks seek relaxation on risk weight for NBFC loan purchases

[I]  NHAI to put existing highway projects under infrastructure investment trust

[I]  Commerce ministry to close State Trading Corp, Project and Equipment Corp

[I]  Govt reveals slew of measures to increase export credit to 30% in FY20

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10989;  USDINR DGCX: 71.9950;  DJIA Mini: 27057;  FTSE 100 Fut: 7324;  NIKKEI 225 Fut: 21790;  EUR-USD: 1.1013; Crude Oil (WTI): 61.97;  Gold (Spot): 1500

 

Best Regards, ARBIND
17 Sep 2019