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Tuesday, 3 November 2015

TODAY NEWS 03 November 2015

  • Why Inflation is ridiculously low ? or this is just some trick by governments?
Saudi Arabia fiscal position weakening, but still strong
Oil prices making an impact

  • On Friday, S&P downgraded credit rating and citing a pronounced negative swing in the fiscal balance sheet.   Today, Moody's said that the Saudi government has cut back on expenditures, and that without such budget cuts and/or non-oil revenue increases, the Kingdom's creditworthiness will be affected.  The rating agency added that volatile oil prices continue to when the government's balance sheet and that they see a deficit of 17% of GDP. 
  • In 2013, there was a large surplus of 7% of GDP but with oil prices quickly retreating, that surplus is being eroded quickly.  
  • The IMF warned recently that the oil rich countries of the middle east will run out of cash in 5 years or less will save from $50 a barrel.  Saudi Arabia derives 80% of revenue from oil.  
  • To combat a shortfall of cash, S&P believes that Saudi Arabia will need to rely on more debt and draw down it's stockpile of cash from it's sovereign wealth fund. This could have a knock on effect of lowering demand for other assets around the world. 

China Tells Eager Parents to Hold Off on the Baby-Making for Now

support by ZATco & 20News

Nissan Raises Full-Year Profit Forecast as Demand Rises in U.S.

Oil Guru Who Called 2014 Rout Sees OPEC Production on Hold

China Slide Toward Debt-Deflation Trap Needs 5-Year Plan Fix

Russian Plane's Midair Breakup a Puzzle in Modern Jet Era

Jeep Sales Keep Soaring as Shoppers Dismiss Poor Quality Ratings

Modi Fires Back at Critics Who Say Intolerance Rising in India

FBI Takes a Bullet in Banks' $50 Billion Fee War With Retailers

  • The FBI got its own wake-up call from the financial industry. The next day, bank lobbyists took credit for getting the alert taken down after telling the bureau it contained many inaccuracies.
  • “We did have a conversation with the bureau," said the American Bankers Association’s cyber-security expert, Doug Johnson. “Our main concern, frankly, was the characterization of PIN."

    Crude Oil Facing Further Falls As Inventories Mount

    Forex technical analysis: EURGBP scoots higher

    Forex technical analysis: AUDUSD flat lines before RBA decision

    Forex technical analysis: USDJPY moves away from hourly MAs

    Nasdaq leads the charge

    UBS happy with EURUSD shorts as their stop remains intact

    Look no further than UBS for how to trade EURUSD, USDJPY and AUDUSD

    The strongest and weakest currencies as NY traders enter for the day

    Nobody knows what the RBA board will do on Tuesday ... the board itself doesn't know

    ECB Villeroy says ECB policy produced results

    Money, money, money: More from guest economist John Hearn