MACRO ECONOMIC NEWS

SMILE, THE BEST FRAGRANCE OF THIS BLOOMING SEASON. WISHING AN AFFECTIONATE DAY AHEAD.

Macro Economic News 04 Feb 2020

 

The European Union and Britain clashed over a post-Brexit trade deal, with the two sides setting out very different visions of a future relationship that could result in the most distant of ties. Thousands of companies have asked to be exempt from the U.S. tariffs placed on Chinese-made goods, but the approval rate has sunk to just 3% in the third round of levies, down from 35% previously. Manufacturing activity around the world appeared to be steadying after a long slowdown, but is set to suffer a fresh setback due to China’s isolation in response to the coronavirus outbreak. Rarely has an integral part the global economy faced such an abrupt and open-ended freeze out, as multinational businesses make hard decisions with limited information. Estimates of global GDP hit from coronavirus disruption while Hong Kong Suffers First Annual Recession in a Decade. India's January manufacturing activity hits near eight-year high as orders jump but Fitch forecasts India’s FY21 GDP growth at 5.6 per cent and Indian Ratings warns fall in GDP growth impacts corporate credit profile.

 

FINANCIAL TIMES

[I]  Johnson ready to spurn EU deal over rule-setting

[I]  Singapore ‘falsehoods’ law shows risks of fake news fight

[I]  Denmark takes tough line with Saudi Arabia and Iran

[I]  Johnson steps up campaign against business lobby

[I]  UK competition regulator to pursue US tech giants

[I]  Industrial companies fall behind on global warming plans

 

REUTERS

[I]  Malaysia says palm oil dispute with India is 'temporary'

[I]  U.S. finalizes rule to slap duties on countries that undervalue currencies

[I]  Oil prices rebound from China virus slump amid ginger recovery across markets

[I]  China virus death toll posts grim record rise, passes 400

[I]  EU offers Johnson a few crumbs in Brexit talks

[I]  Brexit trade deal clash: UK and EU spar over rules

[I]  U.S. manufacturing rebounds; Boeing, coronavirus loom

[I]  ECB should simplify inflation target but avoid big rise - Weidmann

[I]  Estimates of global GDP hit from coronavirus disruption

 

BLOOMBERG 

[I]  OPEC+ Officials Meet for Urgent Check of Virus Threat to Oil

[I]  A Bernie Sanders Win in Iowa Could Ripple Through Markets

[I]  Asia Faces Rate-Cut Pressure to Curb Fallout From Virus

[I]  ECB’s Jens Weidmann Signals Openness to Tweaking Inflation Goal

[I]  U.K. Treasury Interviewed Two Women, Seven Men for BOE Governor

[I]  Whistle-Blowers Should Fear Insider-Trade Ruling, Defendants Say

[I]  Oil in Virus-Driven Bear Market Has Urgent OPEC+ Seeking Fix

[I]  Bank Risk Hardly Changed Since Before Crisis by Some Measures

 

WALL STREET JOURNAL

[I]  Trump Administration Denying More Tariff-Exemption Requests

[I]  Global Factory Revival in Doubt as Coronavirus Spreads

[I]  Coronavirus Closes China to the World, Straining Global Economy

[I]  Oil Prices Slide Into Bear Market on Coronavirus Concern

[I]  Hong Kong Suffers First Annual Recession in a Decade

[I]  This Southern Town Was Growing So Fast, It Passed a Ban on Growth

[I]  Economy Week Ahead: U.S. Trade, Productivity, Jobs Data

 

BUSINESS LINE

[I]  At 55.3, manufacturing PMI hits eight-year high in January

[I]  Fitch forecasts India’s FY21 GDP growth at 5.6 per cent

[I]  ‘Budget should have put more money into the hands of the people’

[I]  Private dairies await clarity on move to double milk processing capacity

[I]  Fitch forecasts India’s FY'21 GDP growth at 5.6 per cent

[I]  FM has rightly focussed on healthcare fundamentals

 

ECONOMIC TIMES

[I]  A Rs 45,000-cr fund to challenge China's clout in electronics

[I]  RBI to maintain status quo this policy review: B Prasanna

[I]  Customs department may quiz importers on FTA claims

[I]  Fall in GDP growth impacts corporate credit profile: India Ratings

[I]  India's January manufacturing activity hits near eight-year high as orders jump

[I]  Maritime Unions oppose NRI tax proposal in Budget 2020

 

BUSINESS STANDARD

[I]  Centre looks to issue G-secs without foreign limits in first half of FY21

[I]  Budget 2020: In a first, defence gets more for pension, less for salaries

[I]  We have reprioritised spending to be more productive: Expenditure Secretary

[I]  Monetary policy review: RBI likely to maintain its pause on rates

[I]  Bonds rally as govt keeps borrowing programme limited to Rs 7.1-trn

[I]  Govt's 'Make in India' move boosts stocks of consumer durables companies

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11734;  USDINR DGCX: 71.4025;  DJIA Mini: 28466;  FTSE 100 Fut: 7293;  NIKKEI 225 Fut: 22995;  EUR-USD: 1.1058; Crude Oil (WTI): 50.46;  Gold (Spot): 1575

 

Best Regards, ARBIND
04 Feb 2020