German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Asian Stocks Advance as Nikkei Nears Record High Ahead of Fed Decision 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Gold Tumbles Below $4,400 on NFP Shock: Fed Easing Bets Crater, Sell on Rallies to $4,300 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
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.
