Goldman Sachs: US Dollar Likely to Stay Strong Despite Oil Price Retreat 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Gold Tumbles Below $4,400 on NFP Shock: Fed Easing Bets Crater, Sell on Rallies to $4,300 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
While all the focus is on payroll numbers or weak inflation pushing rate hike expectation from FED further into the future. However one measure is showing that US economy may not be roaring but more than humming and recovery is solid.
- Government budget deficit, which is the difference between government expenditure and tax revenue collected dropped to lowest level since 2007,
- It has narrowed to $439 billion, or 2.5% of GDP, for 12 months to end September, compared to $483 billion a year ago.
According to treasury department, lesser gap was achieved thanks to 8% rise in tax revenue to $3.25 trillion from a year ago.
- According to the treasury, stronger economy led to higher income for individuals and higher profits for corporates, which led to rise in payroll taxes as well as revenue from business.
However, US economy is still running large deficit, which needs to be financed by large issuance of treasury debt and if the congress fails to increase the debt limit by November 3rd, US economy is heading for is first default.
