US to delay 10% tariffs on a range of Chinese goods, Chinese Industrial output grew 4.8 per cent in July & Indian rupee has become Asia's worst-performing currency

10th Aug – 16th Aug

1. Chinese Industrial output grew 4.8 per cent in July from a year earlier

Aug 14, 2019

Chinese Industrial output grew 4.8 per cent in July from a year earlier, which was against the forecast of 5.8 per cent and from 6.3 per cent growth compared to June. China's industrial output was lower than the most bearish forecast, resulting from weakened demand at home and at abroad.

Source: Business Standard

2. US announced on Tuesday that it would delay the introduction of 10% tariffs on a range of Chinese goods

Aug 13, 2019

The US announced on Tuesday that it would delay the introduction of 10% tariffs on a range of Chinese goods sold in the US, including technology products such as laptops, mobile phones and game consoles. Optimism improved as full talks are scheduled for September; this has further raised hopes.

Source: The Guardian

3. Copper exports from some of Peru’s top mines resumed after weeks of protests

Aug 13, 2019

LME copper prices fell after copper exports from some of Peru’s top mines resumed after weeks of protests. Anti-mining protests that had blocked key infrastructure in Peru’s southern copper belt eased over the weekend.

Source: Financial Post

4. The Indian rupee has become Asia's worst-performing currency in August

Aug 16, 2019

The Indian rupee has become Asia's worst-performing currency in August amid pressures from China's Yuan, the ongoing trade war, and a massive withdrawal of funds by FPI’s after a change in the tax structure.

Source: Business Standard

5. Indonesia’s President Joko Widodo will make the final decision on Iron ore export ban

Aug 13, 2019

Indonesia’s President Joko Widodo will make the final decision on whether the country brings forward an export ban on mineral ore that is currently due to come into force in 2022. Indonesia’s Nickel Miners Association has said that bringing forward the ban would disrupt the revenue flow for miners which they depend on to finance smelter investments.

Source: Reuters

6. China's Yuan sinks to fresh 11-year lows against the dollar this week

Aug 12, 2019

The Yuan weakened to 7.0707 against the dollar in Shanghai this week on Monday which is at its lowest level since March 2008. It is speculated that China is willing to tolerate a gradual decline as trade tensions with the U.S. intensify. The currency depreciated below 7 to the dollar after the U.S. announced plans for another round of tariffs on Chinese imports.

Source: Global Times

7. Kharif sowing to be normal following a sharp improvement in the southwest monsoon

Aug 10, 2019

A sharp improvement in the southwest monsoon over the past few weeks has narrowed the shortfall in kharif acreage compared to last year. The Government sound confident that by the time the kharif sowing ends, about 106 million hectares will be under crops.

Source: Business Standard

8. IEA: Global oil demand to grow at its slowest pace since the financial crisis of 2008

Aug 09, 2019

Mounting signs of an economic slowdown and an increasing uncertainty surrounding the US-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008. Compared with the same month in 2018, global demand fell by 160,000 barrels per day (bpd) in May - the second year-on-year fall of 2019. From January to May, oil demand increased by 520,000 bpd, marking the lowest rise for that period since 2008.

Source: Reuters