MACRO ECONOMIC NEWS

A RAREST ROSE FOR YOUR SMILE AND EXTRAORDINARY FRAGRANCE OF LIFE. WISHING AN ECSTATIC DAY AHEAD.

Macro Economic News 07 Feb 2020

 

China would halve additional tariffs levied against U.S. goods following the signing of a Phase 1 deal that defused a bruising trade war between the world's two largest economies. Mnuchin Says U.S. 2020 Growth to Be Less Than 3% Due to Boeing while China’s property market stalls amid coronavirus outbreak. Australia's central bank slashes near-term growth forecast, still upbeat on long term. Leaders of six major central banks undertaking joint research on digital currencies are considering holding their first meeting in mid-April in Washington while virus spread unnerves global central bankers. During the monetary policy review RBI holds rates and keeps door open for cuts in future estimating GDP to expand at 6% in FY21. It intends tighten supervision of co-operative banks and seeks to balance growth and inflation risks whereas India Inc reports Q3 revenue growth slowest in sixteen quarters.

 

FINANCIAL TIMES

[I]  State leader at centre of German political crisis resigns

[I]  China’s property market stalls amid coronavirus outbreak

[I]  Mnuchin warns US growth may not hit 3% in 2020

[I]  India to tighten supervision of co-operative banks

[I]  Climate change fears put US gas utilities on defensive

[I]  Germany’s anti-far right taboo is under pressure

 

REUTERS

[I]  RBI holds rates steady, seeks to balance growth and inflation risks

[I]  Japan PM Abe orders government to take steps vs virus impact on economy

[I]  Australia's central bank slashes near-term growth forecast, still upbeat on long term

[I]  Russia backs OPEC+ proposal to cut oil output: Lavrov

[I]  Japan household spending falls more than expected in December

[I]  Six central banks to hold digital currency meeting in April: Nikkei

[I]  China to halve tariffs on some U.S. imports as coronavirus risks grow

[I]  UK shops report biggest sales jump in six years - BDO

 

BLOOMBERG 

[I]  Big Economic Reads: Virus Spread Unnerves Global Central Bankers

[I]  Carney Bequeaths Bailey a Mystery to Solve on U.K. Inflation

[I]  Drop in Borrowing Costs Shows India Shadow-Bank Crisis May Ease

[I]  Crude Extends Recovery on Optimism OPEC Will Respond to Virus

[I]  SEC’s ‘Crypto Mom’ Has Long-Shot Plan to Free Coins From Rules

[I]  Tougher Mortgage Rules Check Toronto Buyers, Not Surging Prices

 

WALL STREET JOURNAL

[I]  Mnuchin Says U.S. 2020 Growth to Be Less Than 3% Due to Boeing

[I]  Fed’s Quarles Calls Current Stance on Interest Rates Appropriate

[I]  China to Cut Tariffs on $75 Billion of U.S. Goods

[I]  Companies Find Ways to Bypass Tariffs on Chinese Imports

[I]  Public Transit Hits a Speed Bump: Not Enough Drivers

[I]  Coronavirus Ripple Effects Hit Production at Airbus, Hyundai

 

BUSINESS LINE

[I]  RBI estimates GDP to expand at 6% in FY21

[I]  India Inc Q3 revenue growth slowest in sixteen quarters

[I]  Let out your house? You can still claim interest deduction under new tax regime

[I]  PM insists economy strong, no cause for despondence

[I]  India, China to hold talks on marine virus

 

ECONOMIC TIMES

[I]  RBI does its bit, the ball is back in govt's court to revive growth

[I]  Bankers' prescription for a $5 tn economy

[I]  500 in 5 yrs: Full steam ahead for pvt trains

[I]  Did foreigners read the Budget better?

[I]  Rabi crop outlook indicates record food grain production says NCML

 

BUSINESS STANDARD

[I]  Monetary policy review: RBI holds rates, keeps door open for cuts in future

[I]  Monetary policy a breather for banks; easing CRR can improve margins

[I]  RBI policy: CPI-based inflation to GDP growth, key numbers at a glance

[I]  RBI's DPI to track reach of digitisation of payments in India by July

[I]  Monetary policy review: RBI extends helping hand to MSMEs, realtors

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 12120;  USDINR DGCX: 71.3375;  DJIA Mini: 29292;  FTSE 100 Fut: 7435;  NIKKEI 225 Fut: 23832;  EUR-USD: 1.0983; Crude Oil (WTI): 51.24;  Gold (Spot): 1567

 

Best Regards, ARBIND
07 Feb 2020