MACRO ECONOMIC NEWS

MESMERISING IS TO BREATHE WITHIN DEEP WOODS. WISHING A SPELLBOUND DAY AHEAD.

Macro Economic News 20 Feb 2020

 

India clears accord on intellectual property rights with U.S. Ahead of his first official trip to India, U.S. President Donald Trump said the United States and India were working on a major trade deal but he was not sure if it would be completed before the U.S. presidential election in November. FED officials signaled growing optimism about the U.S. economy last month, before the coronavirus outbreak in China began to cloud prospects of firmer global growth in 2020. Britain will prioritise access for high-skilled workers from around the world in its post-Brexit points-based immigration system, setting out its plans to put an end to a reliance on "cheap labour from Europe". Big Tech will have to share data under EU proposals while a Reuters poll suggests that U.S. economy will dodge coronavirus blow, but risks to downside. China cuts benchmark lending rate to prop up virus-hit economy while Argentina lowers key rate to 40% extending world’s deepest cuts and Indonesia moves closer to rate cut on virus. Govt creates tech group to chart the tech landscape for India whereas In a first in India, Karnataka is drafting separate labour law for gig workers. Law ministry may prepare Cabinet note for Aadhaar-voter ID linking soon.

 

FINANCIAL TIMES

[I]  Big Tech will have to share data under EU proposals

[I]  Bankruptcy risks rise for US shale

[I]  Fed sees ‘more favourable’ US economic outlook

[I]  Virus exposes western universities’ reliance on China

[I]  Germany set to force social media to report hate speech

[I]  Brussels and UK trade accusations ahead of Brexit talks

[I]  EU’s richest countries dig in heels over budget

 

REUTERS

[I]  Trump says working on a very big trade deal with India, but will take time

[I]  EU leaders to clash over money as Brexit blows hole in budget

[I]  World Bank pandemic bond under pressure as coronavirus spreads

[I]  EU trade chief downbeat on China accord, other Asian deals

[I]  U.S. economy to dodge coronavirus blow, but risks to downside - Reuters poll

[I]  India clears accord on intellectual property rights with U.S.

[I]  China cuts benchmark lending rate to prop up virus-hit economy

[I]  UK heralds end of 'cheap labour from Europe' with post-Brexit immigration system

 

BLOOMBERG 

[I]  Euro Is Swept Up in Global Funding Frenzy and Set for More Pain

[I]  Gold Just Hit a Seven-Year High on Virus Fears

[I]  Australian Unemployment Climbs Despite Full-Time Jobs Surge

[I]  Johnson’s Fiscal Splurge Gets Green Light From Investors

[I]  More Than 64% of Venezuela’s Sales Are Now in Foreign Currency

[I]  China Rolls Out Legal Game Changer for $5 Trillion Bond Market

[I]  IMF Says Argentina’s Debt Levels Unsustainable After Review

[I]  Argentina Lowers Key Rate to 40% Extending World’s Deepest Cuts

[I]  Indonesia Moves Closer to Rate Cut on Virus: Decision Guide

 

WALL STREET JOURNAL

[I]  Fed Minutes Show Comfort With Economy, Rate Stance

[I]  The U.S.’s Next Trade War? As China Clash Cools, Conflict With India Looms.

[I]  Fed’s Kashkari Expects Rates to Remain Steady

[I]  Trump Supports Sales of High-Tech Products to China, in Blow to Hawks

[I]  Peering Through the Coronavirus Murk Into China’s Economy

[I]  U.S. Sanctions Subsidiary of Rosneft Over Alleged Venezuela Oil Exports

[I]  Newsletter: Trump Pushes Back Against China Hard-Liners

 

BUSINESS LINE

[I]  Transition to BS-VI fuel on track, say auto/oil industry bodies

[I]  Trump, Modi to discuss defence, security, energy

[I]  Prolonged coronavirus outbreak could impact India’s auto supply chain: ICRA

[I]  Cargo volumes may take a hit: ICRA Ratings

[I]  ‘Agro-processing offers challenges and opportunities for co-op sector’

[I]  Green push: Govt revamps crop cover scheme, prunes premium subsidy

 

ECONOMIC TIMES

[I]  Economic toll of coronavirus continues to rise

[I]  Money flow from banks to NBFCs picks up in Oct-Dec

[I]  Consumer durables growth to pick in last quarter of FY20, says official

[I]  Govt creates tech group to chart the tech landscape for India

[I]  In a first in India, Karnataka is drafting separate labour law for gig workers

 

BUSINESS STANDARD

[I]  'Saving big deal for later': US President Trump dashes trade pact hopes

[I]  With or without US trade deal, regulatory issues remain for both countries

[I]  Aadhaar-voter ID linking soon? Law ministry may prepare Cabinet note

[I]  PMFBY scheme: Cabinet makes crop cover optional for loanee farmers

[I]  MPs' panel for dilution of default definition, but RBI flags concerns

[I]  Should the MPC focus on core or headline inflation? RBI must debate

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 12114;  USDINR DGCX: 71.6375;  DJIA Mini: 29348;  FTSE 100 Fut: 7457;  NIKKEI 225 Fut: 23637;  EUR-USD: 1.0798; Crude Oil (WTI): 53.75;  Gold (Spot): 1610

 

Best Regards, ARBIND
20 Feb 2020