U.K. headline inflation remains unchanged at 1.7 pct in September, likely to stay below 2 pct in near-term
Regulatory Series on Cryptocurrencies: US-CFTC Sues Naveda Company in $11 Million Cryptocurrency Fraudulent Scheme
Australian bonds suffer tracking U.S. Treasuries on hopes of successful Brexit deal; September labour report eyed
U.S. housing starts likely to have slowed slightly in September, residential construction to boost growth in Q3
Fed’s dovish stance and balance sheet re-expansion likely to weigh on dollar in months ahead, says Scotiabank
KRW likely to recoup more of year-to-date losses along with yuan appreciation in coming weeks, says Scotiabank
Australia’s rise in September employment remains smallest in seven months; jobless rate likely to drift higher in near-term
U.S. under Trump Series: Trump’s budget plan clears House hurdle
President Trump’s budget plan that paves way for the much-anticipated tax reform has cleared the House hurdle by a narrow margin after it was passed through Senate. The budget plan was approved by the Senate last Thursday with 51-49 margin and made its way to the House. House has cleared the budget with 216 members voting in favour, and 212 opposing it. 20 Republicans voted against Trump’s budget plan citing concerns on the deficits projected arising from Tax cuts.
Speaking to Fox news President Trump said that he expects the Tax reform and cut bill to clear the hurdles in both Senate and the House by the end of the year. Fox News contributor Newt Gingrich, who is a close ally of President Trump said that the tax plan could come as a Christmas gift to the Americans. According to Trump administration, the Tax proposal would have three components; tax cuts for corporations and small businesses from 35 percent to 20 percent; income tax cuts for Americans, and reform which includes simplification of the U.S. tax code.