Iraq Economic News and Points To Ponder Friday Morning 8-7-26
Official Source: $500 Million Cash Shipment Arrives In Iraq
Iraqi News Agency Thursday, August 6th, 2026 / 19:52 INA – Baghdad An official source announced the arrival of a new shipment of US dollar banknotes in Iraq valued at $500 million.
The source told the Iraqi News Agency (INA) that “the US Federal Reserve has sent a new shipment of US dollar banknotes to the Central Bank of Iraq worth $500 million.”
He added that “the funds will be allocated for transactions related to travelers and foreign remittances, subject to the approval and regulations of the Central Bank of Iraq.”
Under The Direction Of The Commander-In-Chief Of The Armed Forces, The Security And Combat Readiness Levels Of The Security And Military Forces Have Been Raised
latest news Friday, August 7, 2026 Baghdad - One News The Security Media Cell announced today, Thursday, that, under the direction of the Commander-in-Chief of the Armed Forces, it was decided to raise the level of security readiness and combat preparedness of all security and military forces, within the framework of enhancing the readiness of security formations and raising their ability to carry out the tasks assigned to them.
The cell stated in a statement that the decision includes implementing training exercises and field movements for military units, within procedures aimed at maintaining the highest levels of readiness and operational capability.
She added that this step comes within the framework of maintaining the high readiness of all security forces formations and enhancing their efficiency in performing security and military duties, which contributes to consolidating security and stability, and protecting citizens and public interests throughout the country. https://1news-iq.net/بتوجيه-من-القائد-العام-للقوات-المسلحة/
Three Tankers Dock At Basra To Load Iraqi Crude
2026-08-06 16:05 Shafaq News- Basra Three oil tankers with a combined storage capacity of 5.3 million barrels docked at Iraq's southern Basra port on Thursday to load crude oil, a source familiar with the matter told Shafaq News.
Two of the vessels have a capacity of 2 million barrels each, while the third can carry 1.3 million barrels.
Iraq normally exports about 3.6 million barrels per day, including around 3.4 million bpd through its southern Basra terminals, according to Iraqi Oil Ministry figures, before the US-Israeli war on Iran caused the sharpest oil-revenue decline among Gulf producers.
Read more: No exit but Hormuz: Iraq's economic vulnerability exposed
https://www.shafaq.com/en/Economy/Three-tankers-dock-at-Basra-to-load-Iraqi-crude
Dollar Gains As Iran Deal Doubts Lift Safe-Haven Demand
2026-08-07 01:16 Shafaq News The dollar drifted higher against the yen and euro on Friday, building on the previous day's gains as doubts about an Iran peace deal buffed the U.S. currency's appeal as a haven.
The greenback also drew support from higher Treasury yields after a Financial Times report citing sources close to Federal Reserve Chair Kevin Warsh pointed to the potential for a September interest rate hike, depending on incoming data.
The monthly U.S. payrolls report, due later on Friday, could provide more clues on the Fed's rate path.
The dollar rose slightly to 158.505 yen in the Asian morning, after gaining 0.4% on Thursday, putting it on course to rise around 0.7% this week as it recovered from a bout of joint Japan-U.S. intervention that sent the U.S. currency tumbling from near a four-decade high above 163 yen on Thursday to a 13-week low of 155.20 on Monday.
Against the euro , the greenback edged up to $1.1521 after strengthening about 0.3% in the prior session.
Tensions continued to play out in the Gulf after Reuters reported a proposed deal between Iran and Oman to help end the U.S.-Iran conflict could give Tehran control over inbound traffic through the Strait of Hormuz.
The U.S. did not immediately comment on the proposal. President Donald Trump has said that a deal to reopen the strait was imminent, but U.S. officials have repeatedly insisted that they would never agree to Iranian control of access to the world's most important trade route for energy supplies.
Brent crude rose a little over a dollar on Friday to trade at $83.55 per barrel, after settling up more than $3 in the previous session.
The heightening inflation risks weighed on Treasuries, sending yields higher.
"USD was supported by higher oil prices (following) news that a deal between the U.S. and Iran to reopen the strait is further away than hoped," said Kristina Clifton, an economist at Commonwealth Bank of Australia.
She and other analysts also pointed to the FT report saying Warsh was open to a September hike if inflation data is strong, although Clifton added, "We expect the Fed to wait until December before starting a modest tightening cycle."
A divided U.S. central bank left rates unchanged last month, but Warsh said he was committed to bringing inflation down.
U.S. nonfarm payrolls are forecast to have risen by 80,000 last month after an increase of 57,000 in June, according to a Reuters survey of economists. The unemployment rate is expected to hold steady at 4.2%.
Against sterling , the dollar strengthened slightly to $1.3449.
The Australian dollar weakened a touch to $0.7029 and the kiwi dollar edged down to $0.5866. (REUTERS)
https://www.shafaq.com/en/Economy/Dollar-gains-as-Iran-deal-doubts-lift-safe-haven-demand
Gold Hits Seven-Week High Before US Payrolls
2026-08-07 03:39 Shafaq News Gold rose more than 1% on Friday and was set for its biggest weekly gain since January, helped by weaker oil prices, while investors awaited key U.S. nonfarm payrolls data for clues on the interest rate outlook.
Spot gold was up 1.1% at $4,285.89 per ounce, by 0635 GMT, after hitting a seven-week high on Thursday. Prices gained 6% for the week.
U.S. gold futures rose 1.1% to $4,344.90.
Hopes of peace in the Middle East pushed inflation expectations lower, allowing gold to surge from a multi-week consolidation above $4,000, said Matt Simpson, a senior analyst at StoneX.
U.S. President Donald Trump told reporters that he believed the war with Iran would be over soon.
Crude oil prices were headed for a weekly loss. Lower energy prices help ease inflation concerns and reduce expectations of higher-for-longer interest rates. Gold is an inflation hedge, but elevated interest rates tend to weigh on its appeal as it offers no yield.
The U.S. Labor Department's nonfarm payrolls report for July is due at 1230 GMT.
"Regardless of how NFP plays out, $4,000 has proven to be a solid support level - and I suspect bulls are waiting for dips to take advantage of a much-needed correction higher towards $4,600. NFP may provide some noise over the near term, but price action has spoken, and gold looks like it wants to rally," Simpson added.
Traders currently see a 55% chance of a U.S. rate hike in September, according to the CME FedWatch Tool.
"Going into August, we are somewhat friendlier towards gold and expect a wider trading band to set in," Marex said in a note.
Silver prices are testing the upper end of a trading range that has held for nearly two months, and a breakout could pave the way towards $68, it said.
Spot silver climbed 3.3% to $63.48, platinum rose 1.5% to $1,755.90 and palladium gained 0.3% to $1,374.30. All three metals were headed for weekly gains. (Reuters)
https://www.shafaq.com/en/Economy/Gold-hits-seven-week-high-before-US-payrolls