MACRO ECONOMIC NEWS

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Macro Economic News 19 Nov 2019

 

Global flows of goods across borders are on course to grow at the weakest pace since the financial crisis, according to the WTO, as trade tensions and rising tariffs continue to weigh on exports and imports. Most German banks are imposing negative rates on corporate clients while New Zealand broadens powers to block foreign investment on security grounds; RBA weighed policy easing opting to assess past cuts’ impact and BOJ conducting research on digital currency. Fed’s says pursuing 2% inflation could distort markets and China's local governments now guarantee $842 billion of credit. Slowing shale-drilling activity is the latest damper on U.S. manufacturers that had come to rely on a booming domestic energy market. OPEC'S share of India's oil imports fell to 73% in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. Indian Govt to focus on tax incentives, private investments in Budget 2020. Top-rated companies tap into low money market rates as liquidity improves. Govt tells Parliament that female participation in labour force declining while Companies Act Panel wants further decriminalisation and easing of compliance.

 

FINANCIAL TIMES

[I]  German unions and businesses call for investment boost

[I]  Dutch seek to avoid cuts to pension payouts

[I]  Most German banks are imposing negative rates on corporate clients

[I]  US state carbon credit prices hit record highs

[I]  UK politicians must set out the future for finance

 

REUTERS

[I]  OPEC's share of Indian oil imports in October hits lowest since 2011

[I]  New Zealand broadens powers to block foreign investment on security grounds

[I]  U.S. to no longer waive sanctions on Iranian nuclear site

[I]  Dollar falls on trade deal outlook, Aussie down on dovish RBA

[I]  BOJ conducting research on digital currency: Kuroda

[I]  Stimulus needed to revive India's stuttering economy: experts

[I]  China private firms shun U.S. as investment, IPO destination, survey shows

[I]  In rare 'wake-up call', Berlin urged to massively boost investment

[I]  Euro zone growth has stabilized, ECB stimulus working as intended: Vasle

 

BLOOMBERG 

[I]  A Health Check of India Shadow Banks Points to Prolonged Trouble

[I]  RBA Weighed Policy Easing, Opted to Assess Past Cuts’ Impact

[I]  Hong Kong Siege, Powell Meets Trump, Delhi’s Dirty Air: Eco Day

[I]  Fed’s Rosengren Says Pursuing 2% Inflation Could Distort Markets

[I]  China's Local Governments Now Guarantee $842 Billion of Credit

 

WALL STREET JOURNAL

[I]  Powell Meets With Trump, a Frequent Critic, to Discuss Economy

[I]  Manufacturers Face New Threat From Fracking Slump

[I]  Trade Flows Set to Stay Weak, Says WTO

[I]  Trump Administration Extends Rural Telecoms’ License for Huawei Gear

[I]  Economy Week Ahead: U.S. Sentiment and Housing-Sector Readings

 

BUSINESS LINE

[I]  Global trade in Q4 of 2019 likely to be below trend: WTO

[I]  Competition for Public Sector Enterprises will increase as government plans further reforms: SAIL Chairman

[I]  India may retaliate against US in steel dispute at WTO

[I]  Domestic airlines fly 4% more passengers in October

[I]  India realty attracted nearly $14 billion foreign PE in 5 years: Anarock

 

ECONOMIC TIMES

[I]  PSU banks plan to link pay with performance

[I]  NBFC sector may finally get a much needed breather

[I]  Global investors may make a beeline for bad loans

[I]  India's finished steel exports fall 34 pc to 6.36 MT in 2018-19

[I]  World goods trade may remain below trend in Q4 2019: WTO

[I]  'RBI is working on strengthening its supervisory skills'

[I]  Niti prepares roadmap to improve India's health system

[I]  Govt plans to shield IBC cos from PMLA action against promoters

 

BUSINESS STANDARD

[I]  Budget 2020: Govt to focus on tax incentives, private investments

[I]  Top-rated companies tap into low money market rates as liquidity improves

[I]  Amid slowdown, steel companies reduce prices for automakers by 14%

[I]  Moped sales fall 25.58% in April-Oct as rural India demand dries up

[I]  Female participation in labour force declining, govt tells Parliament

[I]  46.8% of workers aged 15 years and above were engaged in work in FY18: Govt

[I]  Companies Act: Panel wants further decriminalisation, easing of compliance

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11911;  USDINR DGCX: 71.9850;  DJIA Mini: 28019;  FTSE 100 Fut: 7306;  NIKKEI 225 Fut: 23360;  EUR-USD: 1.1074; Crude Oil (WTI): 56.88;  Gold (Spot): 1470

 

Best Regards, ARBIND
19 Nov 2019