News 

The budget battle may be coming to an end…

“A ‘bottomless’ budget deficit, paired with such a level of debt does pose significant risk” reports forexlive.com. Would a budget deficit increase to 2.4% of the GDP, be of any help?. Disaster struck, as Italy announced its plans earlier this year to run a budget deficit of 2.4% of GDP not only for 2019, but also for two consecutive years thereafter.Through stronger growth – higher tax revenues and a lower deficit could be achieved over the course of a few years.Drowning in political and economic crisis, some already started to…

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China could surpass the US in artificial intelligence tech. Here’s how

“But if you measure by value created, how much market capitalization, how many users, how much revenue, China probably is already ahead.”” writes Uptin Saiidi for cnbc.com. “If you measure by research — basic research papers published, excellence of research — U.S. is and will be ahead for the next decade,” he said.Artificial intelligence has the potential to transform many industries: Cars that drive themselves, facial recognition that enhances security, or systems that could detect cancer better than a doctor.”Data is the new oil, so China is the new Saudi…

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UK October GDP +0.1% vs +0.1% m/m expected

“Factory activity data is rather poor on the month though with notable declines in manufacturing and industrial activity” reports forexlive.com. All this feeds into the GDP readings above but it’s not an encouraging outlook for UK factory data in Q4 to say the least. There’s also factory activity data released at the same time as per below:.  Source: forexlive.com Share This:

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Trump invokes world wars to shame Europe about NATO contributions

“While European nations were involved in both world wars, many nations fought each other, not solely united against a common non-European enemy” reports washingtonexaminer.com. The U.S. spent 3.5 percent of its GDP on defense in 2017, according to NATO figures, down from 4.8 percent in 2011, though Trump has previously also erroneously cited 4.2 percent of GDP in defense spending.Trump has repeatedly called on European leaders to honor their 2014 pledge to increase defense spending to 2 percent of gross domestic product by 2024. Source: washingtonexaminer.com Share This:

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After 15-year run, Denmark is no longer the most heavily taxed country — so which country is?

“Tax revenues in the U.S. rose relative to the size of the economy mainly because of a one-off tax on accumulated profits earned by American businesses overseas” writes Shawn Langlois for marketwatch.com. France’s tax revenues equaled 46.2% of economic output, up from 45.5% in 2016 and 43.4% in 2000.Critics say such a tax would disproportionately hurt the lower rungs on the economic scale.Still, at 27.1% of GDP, only five countries had a lower tax take than the U.S., with Mexico, at 16.2%, the lowest of them all. Source: marketwatch.com Share This:

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AUD News 

Australia’s economy slows, debt-laden consumers a deadweight

“Wednesday’s report on gross domestic product (GDP) showed the economy expanded 0.3 percent in the third quarter, half of what economists had expected” writes unknown author for cnbc.com. Australia’s economy slowed more than expected last quarter as consumers reacted to tepid wage growth by shutting their wallets, a disappointing outcome that sent the local dollar sliding as investors pushed out the chance of any rate hike.The news came as fears of a possible slowdown in the U.S. economy and the Sino-U.S. tariff slugged world shares and threatened future business investment.The…

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AUD Markets News 

Australian GDP growth may slow, but AUD/USD remains bullish

“A mediocre growth rate of 0.4% or lower would already cause a rethink. 0.4% QoQ is below 2% annualized and could push the yearly growth rate to around 3% or below” writes Yohay’s Google Profile for forexcrunch.com. All in all, the Aussie is enjoying an uptrend and a slowdown in growth is unlikely to change that.Australia publishes its Gross Domestic Product for the third quarter of 2018 on Wednesday, December 5th, at 00:30 GMT. The Australian economy enjoyed a robust growth rate of 0.9% QoQ and 3.4% YoY in Q2.So,…

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Markets News 

EGP liberalisation eliminated all FX shortage

“The CBE noted that the distortions in the domestic foreign currency market were eliminated, and the forces of supply and demand drove, and still continue to drive, the process of price findings in the FX market” writes Hossam Mounir for dailynewsegypt.com. Fresh foreign currency portfolio investments, from this point forward, should be channelled through the interbank market. Source: dailynewsegypt.com Share This:

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Austerity has measurably damaged Europe: here is the statistical evidence

“Economic growth in Europe and the US was the same before the 2008 crisis but Europe fell behind afterward” writes Jim Edwards for businessinsider.com. Fiscal tightening in Europe reduced GDP growth by 10% compared to the US, the IIF says. “Fiscal austerity is a mistake.”. The data suggests fiscal austerity was the difference.In terms of GDP growth per capita, the difference was 5%. Source: businessinsider.com Share This:

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Economy grew 3.5% in third quarter, pushes corporate profits to 6-year high, GDP shows

“Consumer spending, the main engine of the economy, rose at a 3.6% pace instead of 4%” writes Jeffry Bartash for marketwatch.com. What happened: Although the increase in GDP was unchanged, the revised report shows marked changes in how well some segments of the economy performed.More notably, profits in the past 12 months have climbed at a heady 10.3% clip, the fastest increase since 2012.The increase in gross domestic product — the official measuring stick of the economy — was unchanged from the original finding. Source: marketwatch.com Share This:

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