Economy

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The US Senate has passed the 2018 budget blueprint which is the foreunner for tax reform. US dollar higher on optimism and that House will be shamed into no further delays. Passes 51-49 vote along party lines.

The 19th National Congress of the Communist Party of China.

Ahead of China's National Congresss we have seen some teasers pop out of Bejing. Latest if from leading Chinese Think Tank, State Information Center saying PBOC should tighten and strengthen controls.

Germany's economic ministry raised GDP forecasts for 2017 and 2018 on Wednesday saying also that robust German domestic consumption will see imports outstripping exports implying Germany will aid European and world growth.

itWith North Korea, Turkey, Iran, Russia and counter terror all hot topics the defense sector will be keeping an eye on The Association of the United States Army annual conference Monday through Wednesday in Washington, D.C. Exhibitors include $MSFT, $LMT and $OA. 

Harvey and Irma saw the U.S. lose more jobs in September than expected. The U.S. jobs report lost 33,000 non-farm jobs, much less than the 80,000 job gains expected the Bureau of Labor Statistics said on Friday. 

Canada's merchandise trade deficit totalled $3.4B in August, widening from a $3B deficit in July. Exports decreased 1% on lower volumes, while imports were unchanged.

New car registrations have collapsed in the U.K in September SMMT report. Seasonally this is particulary concernings as it's the first time UK September car registrations have fallen in 6 years. Diesel vehicle demand has crashed on emission confusion. 

The World Bank warn the steep growth of shadow banking could trigger a debt crisis in China in it's October report on the East Asian and Pacific economies. They see Chinese debt levels and it's "shadow banking" as one of the greatest threats to regional prosperity.

Apparently Russian President Vladimir Putin has not decided he will run for re-election in March 2018. For a guy who hasn't relinguished any power since he headed the KGB this seems doubtful.  Also today Senate Intelligence Committee head Burr said "Can certifiably say no vote totals were affected as a result of Russia" 

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