MACRO ECONOMIC NEWS

FUN, FROLIC, FRIDAY AND A MAD ANGLE... WISHING A THRILLED DAY AHEAD.

Macro Economic News 04 Oct 2019

                                                                                                                                                           

India is among the world's most protectionist countries but the United States is trying to negotiate a limited trade deal with the South Asian nation to resolve their differences, U.S. Secretary of Commerce Wilbur Ross said on Thursday. U.S. services-sector activity last month expanded at its slowest pace in three years, prompting concerns a manufacturing downturn is spreading across the economy. US shopping mall vacancies hit 8-year high. Nearly every major economy has been affected by the slowdown in global manufacturing activity. August economic activity worse than 2008 financial crisis, says Nomura. RBI relaxes ban for those looking to buy stake of foreign firms in India.

 

FINANCIAL TIMES

[I]  Global economy fears over trade tensions and dismal data

[I]  EU doubts grow over Boris Johnson’s Brexit offer

[I]  Turkish inflation falls to lowest level in almost three years

[I]  US shopping mall vacancies hit 8-year high

[I]  Impact of US tariffs uneven across Europe

[I]  EU rules in favour of Polish borrowers over Swiss franc-linked loans

 

REUTERS

[I]  India protectionist, but U.S. negotiating limited trade deal: Ross

[I]  Fed policymakers 'open' to rate cut as risks to outlook rise

[I]  Japan finance minister: See no immediate need for stimulus after tax hike

[I]  Australian housing a key source of potential 'systemic risk': RBA

[I]  U.S. widens trade war with tariffs on European planes, cheese, whisky to punish subsidies

[I]  EU and Ireland sceptical of a Brexit breakthrough after PM Johnson's offer

[I]  U.S. recession risks up as services growth hits three-year low

[I]  Waning demand prompts Indian, Thai exporters to lower prices

[I]  U.S. skies still bright for Main Street banks even as Wall Street frets

 

BLOOMBERG 

[I]  India Set to Cut Rates. Question Is by How Much?: Decision Guide

[I]  Fighting Against Bank of Japan May Not Be Crazy After All

[I]  Gold Extends Push Above $1,500 in Final Hours Before Jobs Data

[I]  U.S. Services Slump, Fed Bets, Hong Kong and Shenzhen: Eco Day

[I]  BOJ’s Wakatabe Wants to Get Out of Negative Rates as Soon as Can

[I]  Central Banker Says Colombia Isn’t Considering FX Intervention

 

WALL STREET JOURNAL

[I]  Services Stumble Threatens Sharper Slowdown

[I]  Clarida Says Fed Will Do What It Takes to Sustain Growth

[I]  Here Is How Interconnected Manufacturing Is Across the Globe

[I]  IMF’s New Chief Vows to ‘Fix the Roof’ Before Storm Hits

[I]  Retailers Give Sunny Holiday Forecast but Sound a Warning

[I]  EU Pledges Restraint as U.S. Moves to Add Tariffs

[I]  Fed’s Mester Warns Low Rates Can Fuel Financial Imbalances

 

BUSINESS LINE

[I]  Auto sector slowdown, widespread rainfall in Aug impacted GST mop-up, says Centre

[I]  Budget 2020-21: Finance Ministry starts pre-budget exercises

[I]  Tax cuts to impact revenue collection of States, says RBI report

[I]  More reforms in offing, says NITI Aayog CEO

[I]  Centre looking at mandatory drinking water standards

 

ECONOMIC TIMES

[I]  Bond investors seek clarity on future rate cuts & fiscal math

[I]  Maharashtra onion traders threaten to boycott trade if restrictions not eased

[I]  No major hurdle to trade deal: India, US

[I]  Singapore Deputy PM warns of greater economic uncertainty due to US-China trade war

[I]  Why another rate cut may not help India

[I]  Labour ministry to rejig draft social security code

[I]  Favourable conditions exist to achieve $5 trillion economy target: Official

 

BUSINESS STANDARD

[I]  India has opportunity to gain from US-China trade war: Wilbur Ross at WEF

[I]  Colour but no credit: Loan 'mela' kicks off, but without spot approvals

[I]  Just 10% of top Indian CEOs confident about reliability of AI, says PwC

[I]  August economic activity worse than 2008 financial crisis, says Nomura

[I]  RBI relaxes ban for those looking to buy stake of foreign firms in India

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11384;  USDINR DGCX: 71.1750;  DJIA Mini: 26140;  FTSE 100 Fut: 7075;  NIKKEI 225 Fut: 21330;  EUR-USD: 1.0977; Crude Oil (WTI): 52.65;  Gold (Spot): 1510

 

Best Regards, ARBIND
04 Oct 2019