MACRO ECONOMIC NEWS

THE HAPPINESS DOES NOT DEPEND UPON CIRCUMSTANCES; SOMETIME IT DOES ON FRIDAY. WISHING A DAY OF HIGH SPIRIT AHEAD.

Macro Economic News 01 Nov 2019

 

India among top nations with most conducive environment for financial inclusion: Report but US think tank thinks that India's growth is in barely positive territory. A World Trade Organization (WTO) panel ruled that Indian export subsidies are prohibited and should be removed, upholding a complaint brought by the United States. U.S. inflation remained soft in September, as labor costs rose modestly despite the lowest unemployment rate in 50 years. Households increased spending heading into the fourth quarter, suggesting consumers have continued to help prop up U.S. economic growth. The Eurozone’s economic expansion continued at a crawl in the three months through September, with little prospect of a quick return to robust growth. Chinese manufacturing activity fell to an eight-month low in October, raising another warning signal as hopes for a temporary truce in the U.S.-China trade talks were dealt a further blow. Saudi Arabia is to cut spending as private sector growth picks up. Negative rates ‘essential’ for Swiss economy, says central banker. Japan's September jobless rate edges up from near three-decade low. Bank of Japan, Leaving Rates Unchanged, Suggests Further Lowering Is Possible.

 

FINANCIAL TIMES

[I]  EU eyes new anti-money laundering body after scandals

[I]  ‘Imperious’ Macron tests patience of EU partners

[I]  Fed opts to wait on the US consumer with rate cut pause

[I]  India confirms cyber attack on nuclear plant

[I]  Nancy Pelosi willing to allow vote on Nafta revamp

[I]  Eurozone economy defies expectations with modest growth

[I]  Hong Kong falls into recession as protests rock economy

[I]  Bank of Japan hints it is willing to cut interest rates

[I]  Negative rates ‘essential’ for Swiss economy, says central banker

 

REUTERS

[I]  China Oct. factory activity expands at fastest pace in over two years: Caixin PMI

[I]  Japan finmin Aso sees no need now for economic stimulus

[I]  South Korea October exports fall most in almost four years on chips, China demand

[I]  Irish manufacturing conditions improve for first time since May - PMI

[I]  Japan October factory activity sinks to three-year low, orders fall - PMI

[I]  WTO panel rules India export subsidies illegal, upholds U.S. case

[I]  U.S. imposes new Iran sanctions, but waives others

[I]  UK lawmakers want bank payments 'speed bump' to stop scammers

[I]  Japan's September jobless rate edges up from near three-decade low

 

BLOOMBERG 

[I]  China Trade Deal Doubt, U.S. Outlook Worry, Taiwan Boom: Eco Day

[I]  Oil Set for Weekly Drop on Rising Saudi Output and Trade Woes

[I]  China Likely to Loosen Cap on Foreign Coal as Imports Race Ahead

[I]  Japan’s Overseas M&A Boom Is Keeping the Yen's Gains in Check

[I]  Saudi Arabia to Cut Spending as Private Sector Growth Picks Up

[I]  U.S. Wins WTO Case Against India Involving Billions in Subsidies

[I]  Turkey Plans to Ramp Up Borrowing in 2020 as Budget Woes Mount

 

WALL STREET JOURNAL

[I]  U.S. Inflation Remains Soft in September

[I]  U.S. Consumers Stay on a Spending Streak

[I]  Eurozone’s Sluggish Economy Shows Challenge Facing Lagarde

[I]  Treasury Pares Back Anti-Inversion Tax Regulations

[I]  Chinese Manufacturing Slumps to Eight-Month Low

[I]  Fed Cuts Rate for Third Time This Year, Signals Pause

[I]  Newsletter: Fed Signals Pause, Hong Kong in Recession

[I]  Bank of Japan, Leaving Rates Unchanged, Suggests Further Lowering Is Possible

 

BUSINESS LINE

[I]  Core sector output contracts 5.2% in Sept

[I]  In H1, fiscal deficit at 93% of full-year target

[I]  Cabinet likely to consider changes in terms of reference of 15th finance panel

[I]  RCEP: India says critical issues still need to be sorted out

[I]  Core sector output contracts 5.2% in Sept

[I]  India among top nations with most conducive environment for financial inclusion: Report

 

ECONOMIC TIMES

[I]  NHAI to focus on land acquisition for new projects

[I]  Onion, tomato prices continue to rule high at Rs 60-70/kg in Delhi

[I]  RBI asks Indian banks to probe alleged data leak of 1.3 million cards

[I]  India's growth is in barely positive territory: US think tank

[I]  Losses due to GST in FY23 to be Rs 13K cr: UP to Finance Panel

[I]  Labour productivity falls over the last eight years

[I]  India needs low tariffs to draw supply chains and create jobs: Raghuram Rajan

 

BUSINESS STANDARD

[I]  WTO backs US in trade dispute, says India's export subsidies illegal

[I]  Global sugar-palm lobbies coming to India to protect their trade

[I]  Coal supply hits power, but renewable generation falls in September

[I]  Fifteenth Finance Commission raises concerns on debt levels of states

[I]  Negotiations still unresolved, govt bets on RCEP ministers' meet on Nov 1

[I]  NHAI seeks Rs 25,000-cr additional budgetary support for highway projects

[I]  Low tax revenue, high spend push H1 fiscal deficit to 93% of FY20 target

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11912;  USDINR DGCX: 71.2500;  DJIA Mini: 27037;  FTSE 100 Fut: 7255;  NIKKEI 225 Fut: 22830;  EUR-USD: 1.1163; Crude Oil (WTI): 54.34;  Gold (Spot): 1511

 

Best Regards, ARBIND
01 Nov 2019