MACRO ECONOMIC NEWS

MAY THIS DAY, WE START OUR JOURNEY TO NORTH LIKE THE SUN. WISHING ABUNDANCE OF JOY AND FUN THIS HAPPY HARVEST FESTIVAL.

Macro Economic News 15 Jan 2020

 

US, Japan and European Union seek stronger global rules on subsidies and target China with WTO rule change proposal whereas ECB officials see euro-area economy stabilizing at start of 2020. US consumer prices rise less than forecast in December whereas soft consumer prices complicate the outlook for FED officials who are watching for a meaningful pickup in prices. President Trump’s trade war with Beijing reduced the U.S.’s trade deficit with China last year, although Chinese manufacturers still export far more to the U.S. than vice versa. While Chinese export growth slows to 3-year low, India-China trade dips by nearly $3 billion in 2019. U.S. President Donald Trump is considering visiting India next month, for what would be his first visit to the world's largest democracy since he took office three years ago. India's annual electricity demand grows at slowest pace in 6 years and now, while India’s wholesale inflation touches a 7-month high of 2.59% in Dec, SBI's research has estimated that the rate of retail inflation is likely to breach 8 per cent in January - twice the RBI targeted inflation rate of 4 per cent. While SBI report also finds Economic slowdown hitting jobs sector, labour ministry begins talks with industry and the government is likely to come out with a fresh national employment policy (NEP) amid concerns over the high unemployment rate in the country.

 

FINANCIAL TIMES

[I]  Europeans step up pressure on Iran over nuclear deal

[I]  Europe urged to do more with industry data trove

[I]  US, Japan and EU target China with WTO rule change proposal

[I]  Germany signs off on landmark €86bn rail investment

[I]  Indonesia taps Tony Blair to help oversee new capital

[I]  US consumer prices rise less than forecast in December

[I]  Chinese export growth slows to 3-year low

 

REUTERS

[I]  China to ramp up U.S. buys under trade deal, but sceptics question targets

[I]  U.S. will keep in place tariffs on Chinese imports for now - Mnuchin

[I]  U.S. judge puts on hold House lawsuit seeking Trump tax returns

[I]  Trump considering visit to India next month

[I]  U.S. judge puts on hold House lawsuit seeking Trump tax returns

[I]  Trump administration to change economic data release procedures - Bloomberg

[I]  Drag from Trump's trade wars continues to ripple through U.S. economy

[I]  Phase 1 commodity targets likely more than China can chew - analysts

 

BLOOMBERG 

[I]  U.S. Won’t Cut More China Tariffs Until After November Vote

[I]  Cheap Natural Gas Could Add 500 Million Tons to U.S. Emissions

[I]  Ecuador Said to Plan IADB-Backed $400 Million Bond for Housing

[I]  Fed Announces Plans For Repo Operations Through to Mid-February

[I]  ECB Officials See Euro-Area Economy Stabilizing at Start of 2020

[I]  A Decade Without Fed Hikes Comes Into View for Bond Investors

 

WALL STREET JOURNAL

[I]  U.S. Consumer Inflation Moderates in 2019

[I]  Fed's George: It's ‘Appropriate' to Hold Rates Steady for Now

[I]  Fed Adds $82 Billion to Financial Markets

[I]  In a Year of Trade War, U.S. Deficit With China Shrank

[I]  How the U.S. and China Settled on a Trade Deal Neither Wanted

[I]  Newsletter: The Trade Deal No One Wanted

 

BUSINESS LINE

[I]  India-China trade dips by nearly $3 billion in 2019

[I]  WGC chief pitches for duty cut for gold in Budget

[I]  Now, wholesale inflation touches a 7-month high of 2.59% in Dec

[I]  Retail inflation to breach 8 per cent level in January: SBI research

[I]  India, Russia explore North Sea route

[I]  Trump may visit India in February or ‘soon after’ if all goes well with impeachment trial

 

ECONOMIC TIMES

[I]  India's job crisis may go from bad to worse

[I]  Budget 2020 proposal for salaried professionals: PPF, NSC sops on cards to increase taxpayers' savings

[I]  India's annual electricity demand grows at slowest pace in 6 years

[I]  Economic slowdown hits jobs sector: SBI report

[I]  Stagflation threat looms for former world-beating economy India

[I]  How Tier 2 and Tier 3 cities are set to lead the FinTech space in the next 5 years

[I]  Housing ministry launched e-commerce platform for real estate sector

 

BUSINESS STANDARD

[I]  Share buybacks losing lustre as 20% tax bites; firms await relief in Budget

[I]  Give infrastructure status to data centres, technology firms press DPIIT

[I]  Govt to frame job policy afresh; labour ministry begins talks with industry

[I]  US, Japan and European Union seek stronger global rules on subsidies

 

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 12365;  USDINR DGCX: 70.9725;  DJIA Mini: 28872;  FTSE 100 Fut: 7562;  NIKKEI 225 Fut: 23968;  EUR-USD: 1.1130; Crude Oil (WTI): 58.13;  Gold (Spot): 1550

 

Best Regards, ARBIND
15 Jan 2020