MACRO ECONOMIC NEWS

THE GOD HAS CHOSEN YOU TO BLESS WITH CHOICEST OF HIS BLESSINGS. WISHING A BLISSFUL DAY AHEAD.

Macro Economic News 07 Nov 2019

 

Brazil is expected to vote for the first time against an annual U.N. resolution condemning the U.S. economic embargo on communist-run Cuba, two people in the Brazilian government told Reuters. The U.S. collected a record $7 billion in import tariffs in September as new duties kicked in on consumer goods from China. US Nonfarm labor productivity declined from the second quarter of this year in contrast with Economists survey of expected a 0.9% increase. U.S. imports of goods fell sharply in September, the latest sign that slowing global growth may be spilling into the domestic economy. China, after years of pumping out financial support to keep companies afloat and workers happy, has embarked on a debt reckoning—rapidly building a bankruptcy system to take on a significant pickup in corporate defaults. EU and China agree to protect regional food and drink. Central bankers have been busy creating a positive legacy on climate change while BOE is expected to hold steady as Brexit fog thickens. India's cabinet has approved 100 billion rupees ($1.4 billion) for a fund to help clear stalled housing projects. Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP. IMF puts question mark on India's fiscal math while it wants Indian government to be more credible, transparent on fiscal numbers. India examines creating regulator to settle e-commerce disputes.

 

FINANCIAL TIMES

[I]  German eurozone banking plan wins cautious backing

[I]  Brazil’s blockbuster oil auction falls flat

[I]  EU and China agree to protect regional food and drink

[I]  France to ‘take back control’ of immigration policy

[I]  Central bankers have been busy creating a positive legacy on climate change

 

REUTERS

[I]  India approves $1.4 billion for fund to help stalled housing projects

[I]  India seeks foreign investments in oil and gas sector - minister

[I]  Recent trade hope gains likely fleeting for China's yuan: Reuters poll

[I]  PBOC says blockchain solves trade authentication, financing issues

[I]  U.S. SEC enforcement activity hits second-highest level ever in 2019

[I]  Banks, funds propose shorter trading day in Europe, bourses split 

[I]  Exclusive: Brazil likely to vote with U.S. against Cuba at U.N. over embargo

[I]  China targets individual behaviour with 'green living' campaign 

[I]  Mood of Japan manufacturers at its bleakest since 2013, outlook weak - Reuters Tankan 

[I]  Explainer: Central bank digital currencies: edging towards reality?

 

BLOOMBERG 

[I]  These Are the Signs Traders Are Watching for Quantitative Easing in Australia

[I]  BOE to Hold Steady as Brexit Fog Thickens: Decision Day Guide

[I]  This Is What Awaits South Africa if Moody’s Cuts Its Rating to Junk

[I]  America’s Housing Crunch Is So Bad It May Hurt City Bond Ratings

[I]  Europe Will Step Up Push Into Green Finance, Dombrovskis Says

[I]  ECB’s Holzmann Says Monetary Policy Has Reached Its Limit

[I]  Mortgage Stress Tests Boosted Canada’s Financial Stability: CMHC

 

WALL STREET JOURNAL

[I]  U.S. Collected a Record $7 Billion in Tariffs in September

[I]  Fed Adds $62.542 Billion To Markets Wednesday

[I]  China Embraces Bankruptcy, U.S.-Style, to Cushion a Slowing Economy

[I]  If Warren Scraps Private Health Care, Beware Unintended Consequences

[I]  U.S. Productivity Fell 0.3% in Third Quarter

[I]  Fed’s Williams Says No Rate Changes Penciled In, Economy Will Drive Policy

[I]  Fed’s Evans: Fed Has Moved Policy to Slightly Accommodative Stance

[I]  Drop in Consumer-Goods Imports Points to Slower U.S. Growth

[I]  U.S. Job Openings Edged Lower

 

BUSINESS LINE

[I]  At mine-safety seminar experts call for more underground mines

[I]  Efforts to tap potential in mining should be made ‘safer, better’

[I]  HC asks Tax Dept to permit GST assessees to file for transitional credit

[I]  Family businesses: Most have no succession plan, finds ISB study

[I]  Government relaxes onion import norms as prices cross ₹100/kg

 

ECONOMIC TIMES

[I]  IMF puts question mark on India's fiscal math

[I]  Global bond selloff over US-China trade thaw revives ‘tantrum’ fears

[I]  Agriculture Ministry told to prepare ‘zero edible oil import’ plan

[I]  Maharashtra’s 2019-20 sugar production likely to fall by 45%

[I]  IMF wants Indian government to be more credible, transparent on fiscal numbers

[I]  Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP

[I]  India examines creating regulator to settle e-commerce disputes

 

BUSINESS STANDARD

[I]  Govt likely to extend 15th Finance Commision's term by six months

[I]  Long winter ahead for truck makers as rentals drop 3-4% after festivities

[I]  RBI panel for maximum of two-layered core investment companies by 2021

[I]  India may be looking at a dry spell for FTAs if RCEP falls through: Experts

[I]  Mudra boost to employment: Beneficiaries of the scheme create 11 mn jobs

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12013;  USDINR DGCX: 71.1825;  DJIA Mini: 27402;  FTSE 100 Fut: 7373;  NIKKEI 225 Fut: 23280;  EUR-USD: 1.1061; Crude Oil (WTI): 56.34;  Gold (Spot): 1491

 

Best Regards, ARBIND

07 Nov 2019