News, Rumors and Opinions Tuesday Morning 7-14-2020
TNT:
Tishwash: Al-Kazemi reveals a reform plan to maximize state resources
Prime Minister Mustafa Al-Kazemi revealed that the government has a "reform plan to maximize state resources."
Al-Kazimi said during his visit to the Karbala governorate, "Many projects were lagged due to administrative and financial corruption and mismanagement."
He added, "It is a mistake for the state to rely on the oil resource only, and other sectors should be activated to supplement the general budget." link
Tishwash: The dollar is rising due to investor concern about the tension between China and America and the spread of corona
The US dollar rose on Tuesday as diplomatic tension between the United States and China and an increase in corona virus infections undermined investor confidence despite the fact that moves in the currency market were limited in a quiet session.
Although stock markets retreated with investors being cautious, the yen, which is a safe haven currency, was little changed as the Swiss franc, another currency that traders accepted in times of uncertainty, rose slightly against the euro, indicating limited concerns between Foreign exchange investors.
Markets are now facing an additional threat of reciprocity between Washington and Beijing over differences over access to US financial markets and civil liberties in Hong Kong and demands for sovereignty in the South China Sea.
And the dollar index in its most recent trading rose 0.1 percent against a basket of currencies to 96.662, which keeps it in a narrow range that has been trading since May.
The euro fell 0.1 percent against the dollar, to record 1.1331 dollars.
Currencies that are highly exposed to international trade have declined, but not by much. The Australian dollar fell 0.1 percent to 0.6930 US dollars, while the Chinese yuan fell in foreign transactions to 7.0185 against the dollar.
The yuan was little changed by data showing that China's imports in June rose for the first time since the outbreak of the Corona virus, which paralyzed the economy, as investors focused on tension with Washington.
Sterling fell after the economy recovered in May at a much lower rate than expected, raising questions about the rapid recovery from a sharp decline that many economists had expected.
In the most recent trading, sterling fell 0.3 percent against the dollar to hit 1.2513 dollars link
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Courtesy of Dinar Guru
Pimpy I want to make something perfectly clear because people are conflating something I'm saying. When I say recognize the sovereignty, that's a major step towards them getting the reinstatement or revaluing of their currency. Their currency must be recognized internationally again and that won't happen until they get their sovereignty again and the restriction on their currencies are removed. Somebody's telling me 'There is no restrictions.' Yeah there is. There's big restriction on the currency. That's what we're anticipating. An announcement by Trump that he will recognize and encourage the world to recognize the sovereignty. It would be a huge step and then we want an announcement about the same time or shortly after that the restriction on Iraq's dinar have been removed and we can start seeing it trade once again on the Forex. That's what we want to see...I'm expecting these next two weeks to be really big...
Patriot Intel Report
PIR 07 14 20
We are waiting for the new stimulus bill that includes infrastructure money. This is going to be key to major economic changes.
Congress is scheduled to come back on July 20th.