MACRO ECONOMIC NEWS

STORY OF LIFE IS JUST A SERIES OF BABY STEPS WITH WISH, WILL AND WIT. WISHING A WOBBLY WEEKEND AHEAD.

Macro Economic News 07 Dec 2019

 

The U.S. job market strengthened in November, as employers added 266,000 jobs and unemployment matched a 50-year low, fuelling the economic expansion; FED will feel comfortable maintaining their wait-and-see posture on interest rates after robust U.S. hiring. on contrary, the Canadian economy unexpectedly shed jobs in November and the unemployment rate rose to its highest level in more than a year, marking a retrenchment for a jobs market that has largely been a bright spot in recent years. Imports of Chinese goods fell in October after the U.S. imposed new tariffs on consumer goods, and the overall trade deficit narrowed on a drop in imports and exports. German industry hit by biggest downturn since 2009 with its output falling by 5.3% in year to October, weighing on Eurozone growth outlook. RBI has made NEFT transactions system available 24x7 from December 16. Rabi sowing crosses 400 lakh hectares a hope against slump causing auto component sales decline 10 per cent in first half and auto parts makers shed 1L jobs. RBI’s consumer confidence index dips in November coinciding onion prices zooming  to Rs 165 a kg while its imports reaching by Jan 20.

 

FINANCIAL TIMES

[I]  Opec and Russia agree deeper production cuts to prop up oil

[I]  Robust US jobs data show labour market’s resilience

[I]  November gains surpass expectations despite global trade and economic uncertainty

[I]  German industry hit by biggest downturn since 2009

[I]  Brazil’s booming credit markets fan hopes of ‘revolution’

[I]  Venezuela’s refugee crisis demands co-ordinated action

[I]  US tariffs will hit the American dinner party the hardest

[I]  Argentina puts austerity sceptic in charge of debt talks

[I]  The American labour market is entering largely unexplored territory

 

REUTERS

[I]  Saudi delivers deeper cuts as OPEC+ oil producers back new pact

[I]  Mexico thanks Trump for holding off on terrorist designation for drug cartels

[I]  Trade war goes digital: countries eye tariffs on Internet economy

[I]  Strong U.S. job growth showcases economy's resilience 

[I]  China to waive tariffs on some U.S. soybeans, pork in goodwill gesture 

[I]  Column: U.S. economy set fair for 2020, provided trade truce holds

 

BLOOMBERG 

[I]  Good, Bad and Ugly: Decisive Week May Set Course for Currencies

[I]  OPEC’s Oil Surprise Came as Skeptics Were Doubting Price Rise

[I]  Robots in Finance Could Wipe Out Some of Its Highest-Paying Jobs

[I]  Consumer Credit in U.S. Rises More Than Forecast in October

[I]  Blame the Financial Crisis for More Expensive Christmas Trees

[I]  Repo-Market Minnows Say Fixing the Mess Means Going Beyond Big Banks

[I]  Larry Kudlow Says the U.S. and China Are Discussing the Amount of Farm Purchases

[I]  Bond Traders Trim Bets on 2020 Fed Rate Cut on Jobs Strength

 

WALL STREET JOURNAL

[I]  Strong U.S. Hiring Eases Concerns About Economy

[I]  November Jobs Report Affirms Fed Officials’ Make-No-Moves Stance

[I]  Trump Official Says ‘No Arbitrary Deadlines’ for China Trade Deal

[I]  Canadian Economy Shed Jobs in November

[I]  American Firms Import Fewer Chinese Goods

[I]  Trump’s Tax Cuts Reduce U.S. Burden to One of Lowest in the World

 

BUSINESS LINE

[I]  RBI’s consumer confidence index dips in November

[I]  One lakh temp jobs gone in 10 months till July: ACMA

[I]  Rabi sowing crosses 400 lh

[I]  Coffee becomes part of farm-suicide belt

[I]  Fate of Indian carbon credits worth thousands of crores 

[I]  Men's grooming market grows beyond hair and beard products

[I]  Auto component sales decline 10 per cent in first half

 

ECONOMIC TIMES

[I]  Auto parts makers shed 1L jobs due to slump

[I]  Free WiFi now at 5,500 railway stations

[I]  RBI fixes rate on floating bond 2031 for next 6 months

[I]  A prolonged rout looms for India bonds as RBI pulls support

[I]  Forex kitty continues to swells, scales past $451 bn mark

[I]  Consumers in India turn most pessimistic in more than five years

[I]  India trying to set up IPR office on US model

 

BUSINESS STANDARD

[I]  New power sector distribution scheme to have a capital outlay of Rs 2 trn

[I]  Govt hopes to hit bull's eye on divestment, meet Rs 1.05-trn FY20 target

[I]  Bankers will be allowed to work without any fear, assures PM Modi

[I]  Govt refuses to budge on FDI compliance by e-commerce companies

[I]  CII calls for GST cut, expansionary policy to pull economy out of slowdown

 [I]  Can't compare GDP data with consumer spending report, says govt panel

[I]  RBI to make NEFT transactions system available 24x7 from December 16

[I]  New RBI guidelines likely to help MFIs become small finance banks

[I]  Onion prices zoom to Rs 165 a kg; imports to reach by Jan 20, says govt

 

Best Regards, ARBIND
07 Dec 2019