MACRO ECONOMIC NEWS

TODAY YOU ARE TRUER THAN EVER, JUST LIKE NATURE; A REASON FOR SMILE TO EVERYONE. WISHING A JOVIAL DAY AHEAD.

Macro Economic News 23 Oct 2019

 

EU leaders should delay Brexit after Prime Minister Boris Johnson paused legislation on his deal following a parliamentary defeat, EU Council President Donald Tusk said, as Britain spins towards a possible election to break the impasse. UK industry outlook turns weakest since 2009 on Brexit and world slowdown. Canadian Prime Minister Justin Trudeau faced the cold reality of a minority government that will likely be forced to tilt left to survive, a move that risks upsetting the business community and stoking alienation in oil-producing provinces. Sales of previously owned U.S. homes declined 2.2% in September, a sign that high prices and slim inventory continue to weigh on the housing sector. The Fed injected $99.9 billion in temporary liquidity and $7.5 billion in permanent reserves into financial markets. Beijing draws up plan to replace HK’s Lam with interim leader. Steel prices dropped to 34-month low below the anti-dumping duty due to weak demand in the country. Crime rate rises in 2017; women remain vulnerable, shows NCRB data.

 

FINANCIAL TIMES

[I]  Beijing draws up plan to replace HK’s Lam with interim leader

[I]  Barnier task force to rebuild EU-UK ties after Brexit

[I]  Berlin agrees drastic measures to curtail housing costs

[I]  ‘Japanification’ stalks the US and Europe

[I]  Governments curb new trade policies as tariffs take toll

[I]  Putin seeks friends and influence at first Russia-Africa summit

[I]  China’s tech scene struggles to produce valuable start-ups

[I]  Arab youth vent anger at broken economic promises

[I]  European banks run out of options to protect profits

 

REUTERS

[I]  Indian private lenders signal stress in loan book

[I]  Indian trade body calls for end to duty free edible oil import loophole

[I]  Brexit confusion weighs on pound, dents risk appetite

[I]  Over to EU on Brexit delay, Johnson says after parliament rejects swift decision

[I]  Explainer: EU set to approve Brexit extension, but what will it look like?

[I]  EU moves towards Brexit delay as PM Johnson seeks election to break impasse

[I]  Canada's Trudeau keeps the wheel but prepares for left turn

[I]  Gold bides time as traders await clarity on Brexit

[I]  UK industry outlook weakest since 2009 on Brexit and world slowdown

[I]  Trade tensions, jibes at U.S. overshadow Chinese cyber conference

 

BLOOMBERG 

[I]  India M&A Set to Surge as Founders Face Cash Squeeze, Axis Says

[I]  Trudeau Team Seeks to Calm Oil Patch Fears of Pipeline Debacle

[I]  Cheap Brazil Beans Threaten to Derail China’s Return to U.S. Soy

[I]  Slovenian Lawmakers Approve Bailout Law Criticized by ECB

[I]  Puerto Rico Officials Reject Proposal to Cancel Some Debt

[I]  Global Insider-Trading Case Expands as U.S. Charges Six

[I]  Rising Drought Risk Spurs Most Cash Into Water Funds in a Decade

 

WALL STREET JOURNAL

[I]  Housing Market Stalls in September

[I]  Fed Adds Temporary And Permanent Liquidity To Financial System Tuesday

[I]  Why Hong Kong Matters So Much to China

[I]  The Stealthy Bear Stalking the Dow

[I]  Lagarde Says U.S. Is at Risk of Losing Global Leader Role

[I]  Economy Week Ahead: U.S. Existing-Home Sales and Durable Goods, Eurozone Flash PMIs

 

BUSINESS LINE

[I]  Steel prices drop below dumping duty levels on muted demand

[I]  Here’s how automakers are gearing up for the BS-6 transition

[I]  Just 15% of outstanding arrears of corporate tax recovered in five years

[I]  Centre in tricky waters while regulating single use plastic : CK Mishra

[I]  Low-pressure area forms over Bay of Bengal: IMD

[I]  FMCG players bet on direct distribution in rural areas as wholesale channel faces liquidity crunch

[I]  India yet to ratify a global safety regime for fishing 

 

ECONOMIC TIMES

[I]  Slowdown curbs India Inc's appetite for M&A

[I]  Govt has a plan to attract foreign investors

[I]  No Dhanteras dazzle in Zaveri bazaar

[I]  Currency risks? US corporates’ hedging appetite is light at best

[I]  Trade hopes buttress dollar; loonie lifts as Trudeau clings to power

[I]  A normal yield curve doesn’t mean everything’s normal: El-Erian

[I]  India, US have resolved broad contours of trade deal: Piyush Goyal

[I]  Innovation key to unlocking $5-trillion economy

[I]  Economic Slowdown: How did we get here

[I]  Social media regulations to be ready by Jan 2020: Govt to SC

 

BUSINESS STANDARD

[I]  I-T dept scans 30,000 individuals for remitting money abroad via RBI scheme

[I]  Online proficiency self-assessment test for independent directors from Dec

[I]  Trai moots clarity in definition of 'other service providers'

[I]  Centre relaxes gift policy for employees, hikes monetary limits

[I]  States to miss debt target on slow economic growth: India Ratings

[I]  Crime rate rises in 2017; women remain vulnerable, shows NCRB data

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11620;  USDINR DGCX: 70.9075;  DJIA Mini: 26714;  FTSE 100 Fut: 7178;  NIKKEI 225 Fut: 22570;  EUR-USD: 1.1120; Crude Oil (WTI): 54.09;  Gold (Spot): 1489

 

Best Regards, ARBIND
23 Oct 2019