MACRO ECONOMIC NEWS

WELCOME THE NEW MORNING WITH SMILE AND LOVE. WISHING A WONDERFUL DAY AHEAD.

Macro Economic News 04 Sep 2019

 

The U.S. manufacturing sector shrank for the first time in three years last month, providing the latest sign that a global manufacturing pullback is weighing on the American economy amid rising trade tensions between Washington and Beijing. President Trump said he would redouble his pressure on China if he wins a second term, warning Beijing not to stall trade negotiations until after the 2020 U.S. election. China is seen heading for sub-6% economic growth as tariffs soar. Australia GDP Up 0.5% in second quarter, meeting expectations. Chile cuts benchmark rate to 9-year low as economy weakens. RBI's task force recommends moves to ease credit markets. ECB back to easing again, but inflation still not in its grip: Reuters poll.

 

FINANCIAL TIMES

[I]  US manufacturing contracts for first time since 2016

[I]  China’s industrial heartland fears price of green policy

[I]  EU warns Johnson an election win ‘changes nothing’

[I]  Brexit weighs on Germany’s export-led manufacturers

[I]  France confirms talks over credit line for Iran

[I]  Turkish inflation falls to 15-month low

[I]  Australia looks to break China rare earths dominance

[I]  Corporate Japan remains in cross-shareholding rut

[I]  Recessions have become rarer and more scary

 

REUTERS

[I]  Opponents of 'no-deal' Brexit defeat PM Johnson, who promises an election

[I]  RBI's task force recommends moves to ease credit markets

[I]  BOJ's Kataoka calls for pre-emptive monetary easing

[I]  Weak factory data knocks dollar as Brexit delay hopes boost pound

[I]  ECB back to easing again, but inflation still not in its grip: Reuters poll

[I]  U.S. manufacturing contracts as trade war with China bites

[I]  Japan August service sector growth jumps to near two-year high: PMI

 

BLOOMBERG 

[I]  Fed's Rosengren Sees ‘No Immediate’ Easing Needed

[I]  U.S. Manufacturing Gauge Contracts for First Time in Three Years

[I]  China Seen Heading for Sub-6% Economic Growth as Tariffs Soar

[I]  Australia GDP Up 0.5% in Second Quarter, Meeting Expectations

[I]  Why in India, 6% Economic Growth Is Cause for Alarm

[I]  Bonds Aren't Budging in India Even as Goldman Sees More Easing

[I]  U.K. Snap Election, Trump’s 2020 Threat, U.S. Factories: Eco Day

[I]  Why Demand for Power Is Surging Amid India’s Growth Slowdown

[I]  Chile Cuts Benchmark Rate to 9-Year Low as Economy Weakens

[I]  Japan’s Small Banks Load Up on Risk as They Fight to Survive

[I]  Crisis Among India Shadow Banks Pushes Up Funding Costs Overseas

[I]  Argentine Banks Pay Highest Rate in 3 Years to Keep USD Savings

 

WALL STREET JOURNAL

[I]  In Economics Profession, Hotel-Room Job Interviews Get Nixed

[I]  U.S. Factory Activity Shrinks for First Time in 3 Years

[I]  Fed’s Rosengren: Economy Doing Fine Despite Risks to Outlook

[I]  New York Fed Lays Out Projections for Future of Fed Holdings

[I]  Trump Warns China Not to Stall Talks

[I]  Yearslong Tax Dispute Could Cost Big Tech Companies Billions

[I]  Impasse on Infrastructure Funding Stirs Concern

 

BUSINESS LINE

[I]  Ethanol price hiked by up to ₹1.84 per litre

[I]  Govt measures to revive auto sector yet to make impact on ground level: FADA

[I]  Monsoon may lose steam temporarily

[I]  India, Maldives sign treaty on legal cooperation in criminal matters

[I]  Government weighs privatisation of a few Maharatna and Navratna PSUs

[I]  Fitch Solutions lowers 2019 global steel price forecast

 

ECONOMIC TIMES

[I]  The battle for tech talent is heating up

[I]  Recycling of old gold up 15-20% in August

[I]  Most Asian currencies slip as trade tensions weigh; Indian rupee falls most

[I]  India may have entered ‘Quasi-Recession’ as GDP growth plummets

[I]  RBI Task force recommends the dos for developing secondary market for corporate loans

 

BUSINESS STANDARD

[I]  Foreign exchange dealers under lens for large overseas remittances

[I]  Auto dealers unsure of a revival in consumer sentiment in festive season

[I]  India Inc's investment project announcements fall to Rs 11.3 trillion

[I]  Neutrality of e-commerce marketplace important to sellers, says survey

[I]  Centre plans to make Essential Commodities Act less stringent

[I]  GST Council may cut tax on hybrid vehicles as auto sector battles slowdown

[I]  Copper prices hit two-year low as signs of global slowdown stack up

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10852;  USDINR DGCX: 72.4375;  DJIA Mini: 26184;  FTSE 100 Fut: 7279;  NIKKEI 225 Fut: 20640;  EUR-USD: 1.0975; Crude Oil (WTI): 54.18;  Gold (Spot): 1544

 

Best Regards, ARBIND

04 Sep 2019