MACRO ECONOMIC NEWS

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Macro Economic News 13 Jan 2020

 

U.S. Treasury Secretary Steven Mnuchin said that China's commitments in the Phase 1 trade deal with the United States were not changed during a lengthy translation process and will be released this week as the document is signed in Washington. Fed Chairman Jerome Powell issues cautious approach toward raising interest rates although Most of the U.S. economy sailed through two turbulent years of trade war with China with barely a scratch, a review of key economic indicators shows. Young Japanese consumers balk at spending when prices rise—the low-inflation trap that central banks in the U.S. and Europe are fighting to avoid wile U.K. economic data slew greets BoE officials debating cut. Global automakers cautious about China's market at start of new decade whereas China disposes of $289 billion of bad loans in 2019. Australian M&A heats up in busy New Year for dealmakers although Mexico in 2019 created fewest jobs since financial crisis. Oil Threat Looms for India as Inflation Set to Breach 6% Limit while Commerce Ministry moving to put in place institutional structure to turn districts into export hubs. Jobs roles related to Science, Technology, Engineering and Math are expected to rise by 44 per cent in three years while takeover norms for unlisted firms are getting finalised and ready to be unveiled soon.

 

FINANCIAL TIMES

[I]  US to ground drones on concerns over China tech

[I]  Central-bank easing triggers record bond issuance

[I]  US bank share prices likely to lose momentum

[I]  Taiwan election result leaves Xi Jinping with few options

[I]  Spain’s PM picks cabinet to bolster economic credentials

[I]  Nato has little appetite for Trump’s Middle East mission

[I]  A narrow EU trade deal is the most likely way forward

 

REUTERS

[I]  China's U.S. trade deal commitments not changed in translation: Mnuchin

[I]  Hong Kong leader says financial hub's strengths intact despite protests

[I]  Mexican bank Banorte inks deal with China's Sinosure to boost trade

[I]  Global automakers cautious about China's market at start of new decade

[I]  China's U.S. trade deal commitments not changed in translation - Mnuchin

[I]  China disposes of $289 billion of bad loans in 2019 - regulator

[I]  U.S., China agree to semi-annual talks aimed at reforms, resolving disputes

 

BLOOMBERG 

[I]  Earnings Are Set to Drop Again. Investors Seem Fine With That

[I]  The World’s Most Precious Metal Leaves Everything Else in the Dust

[I]  Oil Holds Biggest Weekly Drop Since July on Easing Gulf Tension

[I]  Lifeline From India’s Biggest Bank Offers Beaten Builders Hope

[I]  Australian M&A Heats Up in Busy New Year for Dealmakers

[I]  Oil Threat Looms for India as Inflation Set to Breach 6% Limit

[I]  Mexico in 2019 Created Fewest Jobs Since Financial Crisis

[I]  U.K. Economic Data Slew Greets BOE Officials Debating Cut

 

WALL STREET JOURNAL

[I]  Japan Offers a Lesson on Inflation for the Fed

[I]  As Jobs Cap Decade of Gains, Women Are Workforce Majority

[I]  U.S., China Agree to New Dialogue to Pursue Reforms, Address Disputes

[I]  Minimum-Income Ideas Get Widest Airing in 50 Years

[I]  Jobs Report Offers Little Reason for Fed to Change Its View

[I]  Fed’s Powell Counseled Caution on Raising Rates in 2014 Meetings

[I]  U.S.-China Trade War Took Toll, but Minor One

 

BUSINESS LINE

[I]  Commerce Ministry moving to put in place institutional structure to turn districts into export hubs

[I]  Industry urges Centre to formulate National Food Processing Policy

[I]  Used-car sales ring in double-digits growth even as new-car sales slump

[I]  Jobs roles related to science, technology, engineering, math rise 44 per cent in 3 years: Report

[I]  India’s gas pricing policy reduces incentives for producers to raise supply: IEA

[I]  High import duty GST taking sheen off jewellery business, leading to job losses: Official

 

ECONOMIC TIMES

[I]  $5 tn goal unimaginably ambitious, says economist

[I]  The bold measures that auto industry wants

[I]  Bad loans may continue to stress banks

[I]  Citi sees better year for commodities, but flags 7 risks

[I]  IEA slams India's gas pricing policy, says it reduces incentives for producers to raise supply

[I]  How bad really is the fiscal situation?

[I]  India is in talks with Mongolia and Russia for importing coking coal: Pradhan

 

BUSINESS STANDARD

[I]  Takeover norms for unlisted firms getting finalised, to be unveiled soon

[I]  Direct tax immunity scheme likely in Budget as govt looks for funds

[I]  Interest rate risks for the Indian economy: Explained in six charts

[I]  Budget 2020: FM may announce second capital infusion for non-life insurers

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12333;  USDINR DGCX: 71.0675;  DJIA Mini: 28823;  FTSE 100 Fut: 7587;  NIKKEI 225 Fut: 23851;  EUR-USD: 1.1123; Crude Oil (WTI): 59.08;  Gold (Spot): 1557

 

Best Regards, ARBIND
13 Jan 2020