Zig’s Place Chatroom News Friday AM 6-11-21

Zig’s Place Chatroom News Friday AM 6-11-21

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11 Jun 21, 09:25 AM butterfly   The United States threatens Iran with sanctions over the movements of its ships in the Atlantic

Friday 11 June 2021 ,,,,,,,,,The US State Department threatened Iran with imposing sanctions on it if it became clear that the purpose of its ships' movements in the Atlantic Ocean is to transfer weapons to other countries.

"If this constitutes an attempt to transfer arms or violate international obligations in one way or another, we will be prepared to respond," State Department spokesman Ned Price said.

"We are prepared to use the mechanisms at our disposal, including sanctions, against any parties that assist Iran in providing weapons to its partners, who resort to violence, or to forces it supports," Price added.

Earlier, the Assistant Commander-in-Chief of the Iranian Army for Coordination Affairs, Rear Admiral Habibullah Sayyari, confirmed that the modern destroyer "Sahand" and the ship "Makran", a former oil tanker converted into a floating base, entered the waters of the Atlantic Ocean, without docking in any port to continue. Later on, on their way to the north of the ocean.

On May 29, Politico newspaper reported that the US side is not aware of the exact direction of the two Iranian ships in the Atlantic Ocean, but it is assumed that they are heading to Venezuela, while sources said: “The purpose and nature of the shipment are still unknown.”

butterfly  2021-06-11 08:10  Shafaq News/ The Central Bank of Iraq confirmed that the dollar exchange rate is stable and will remain unchanged.

The Central Bank said in a statement that the price set at the end of 2020 for the dollar exchange rate was based on in-depth studies of the requirements of the economic and financial situation and the objectives of monetary policy.

It pointed out that its foreign currency sales are based on the stability of its foreign reserves, as those sales have been increased to meet all legitimate requests, and the price will stabilize thanks to the Central Bank's measures.

Social media pages and platforms published a statement it said it belongs to the Vice President of the Central Bank of Iraq, Ihsan Al-Shammari, in which he said that the fair exchange rate for the dollar is 2,400 Iraqi dinars.

butterfly  2021-06-11 04:03   Shafaq News/ U.S. investment bank Goldman Sachs expects Brent crude prices to reach US$80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global economic activity and demand for the commodity.

Brent prices hit US$72.93 per barrel this week, their highest level in over two years, fuelled by expectations of stronger demand.

Brent futures were trading at US$72.21 a barrel on Friday, while U.S. West Texas Intermediate (WTI) crude was around US$70 a barrel.

"Rising vaccination rates are leading to higher mobility in the U.S. and Europe, with global demand estimated up 1.5 mb/d (million barrels per day) in the last month to 96.5 mb/d," the bank said in a note released late on Thursday.

Goldman, which has longstanding commodity sector expertise, expects recovery in oil demand to continue and sees global demand reaching 99 mb/d in August.

The investment bank also said slow progress in negotiations on an Iran nuclear deal could also weigh on oil supply, supporting prices.

Iran and global powers have been negotiating since April to lift sanctions on Tehran, which have hit its economy hard by cutting its vital oil exports.

U.S. Secretary of State Antony Blinken said on Tuesday he anticipates that even if Iran and the United States return to compliance with the nuclear deal, hundreds of U.S. sanctions on Tehran would remain in place.

"Recent headlines comfort us in our expectation that a potential recovery in Iran exports won't happen till the fall," the bank said.

"While there exists both OPEC+ upstream and refinery downstream excess capacity, we expect OPEC+ to fall behind the demand rebound."   Source: Reuters

butterfly   2021-06-11 02:34  Shafaq News/ Gold prices hovered near the key $1,900 per ounce level on Friday, helped by a weaker dollar and U.S. bond yields, as investors shrugged off data that showed a rise in U.S. inflation and hoped the Federal Reserve would not change its dovish stance. Reuters stated.

*Spot gold was up 0.1% at $1,900.10 per ounce, as of 0518 GMT. Prices have risen 0.5% so far this week.

* U.S. gold futures rose 0.3% to $1,902.70 per ounce.

Data showed U.S. consumer prices rose solidly in May, leading to the biggest annual increase in nearly 13 years, while weekly jobless claims dropped to their lowest level in nearly 15 months last week.

According to Reuters, The European Central Bank raised its growth and inflation projections on Thursday but pledged a steady flow of stimulus over the summer, fearing that a retreat now would accelerate a concerning rise in borrowing costs and choke off the recovery.

Investors are not freaking out over a spike in U.S. inflation in the past two months, showing confidence that the Fed is deftly handling a rebound in economic growth. It reported.

The U.S. central bank is likely to announce in August or September a strategy for reducing its massive bond-buying program, but won’t start cutting monthly purchases until early next year, a Reuters poll found.

Silver was climbed 0.4% to $28.07 per ounce, palladium slipped 0.1% to $2,772.71, while platinum edged 0.1% higher to $1,151.98.

butterfly   2021-06-11 01:19   Shafaq News/ The Federation of Iraqi Chambers of Commerce announced, on Friday, that Iraq becomes officially a member of the Executive Committee of the General Union of Chambers of Commerce, Industry & Agriculture of the Arab Countries (GUCCIAAC).

The Union said in a statement the Iraqi delegation held talks with the Federation of the Gulf Cooperation Council (GCC) Chambers to strengthen economic, trade and investment ties with regional and international chambers of commerce.

According to the statement, the Iraqi-Gulf Forum will be hold in Abu Dhabi in September, which will be “the nucleus for the Iraqi-Gulf work.”

All Gulf countries, Officials, Ministers, and businessmen will participate in the Forum.

For his part, The President of the Federation of Iraqi Chambers of Commerce, Abdel Razzak El-Zouhairy, said “we will prepare for this Forum within two months, it will discuss issues in different sectors including infrastructure, agriculture, energy, transportation, banking, education and health.”

It is noteworthy that GUCCIAAC is an independent non-governmental, non-profit regional legal entity. it has played an important role in the process of promoting the trade cooperation between the Arab Countries at the levels of commerce and investment.

butterfly   In a new statement, the central bank denies the intention to change the price of the dollar and announces the reason for increasing its sales

06/11/2021 15:45:09   In a new statement the central bank denies the intention to change the price of the dollar and announces the reason for increasing its salesThe Central Bank of Iraq confirmed “the stability of the dollar exchange rate and the absence of any intentions to change”, and that what is being circulated is not true, as the price that was chosen at the end of 2020 to exchange the dollar was based on in-depth studies of the requirements of the economic and financial situation and the objectives of monetary policy.

And the bank indicated in a statement that {Euphrates News} received a copy of it today that “its foreign currency sales are based on the stability of its foreign reserves at excellent levels, as those sales have been increased to meet all legitimate requests,” and the price will stabilize as a result of the measures taken recently by the Central Bank, which it will take. “.

The bank pointed out that the statements relating to the exchange rate but are promoted for the benefit of speculators, and that the central bank ‘s communication channels represent official sources of information.

The Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, lied earlier today, statements attributed to him, and confirmed in a statement that “the news circulating to me about the value of the Iraqi dinar exchange at a price of 2,400 dinars is not true.”

He explained that “this news is untrue and is the product of the enemy’s electronic armies of the Iraqi people, which do not want good for the economy in the country.”   alforatnews.com

butterfly   The Central Bank issues a statement on the “real value of the dinar” against the dollar

FRI, 06-11-2021,PM 3:23   US Dollar-Iraqi DinarToday, Friday, Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, revealed the truth of statements attributed to him regarding the exchange rates of the dollar.

Al-Yasiri said in a statement, “There is no truth to the news circulating to me about the value of the Iraqi dinar exchange at a price of 2,400 dinars,” noting that “this news is untrue.”

He continued, “This news is the product of the enemy’s electronic armies of the Iraqi people, which do not want the best for the economy in the country.”

Earlier, some media and social media pages circulated a statement attributed to the deputy governor of the Central Bank about “the real value of the Iraqi dinar against the US dollar,” which is 2,400 dinars per dollar.

The Central Bank of Iraq had decided on January 19, 2021 to make a significant change in the dollar exchange rate and decided to amend it as follows:

1- 1450 dinars per dollar, the purchase price of foreign currency from the Ministry of Finance.

2- 1460 dinars per dollar, the foreign currency sale price for banks.

3- 1470 dinars per dollar, the foreign sale price to the public.

The stock exchange in Baghdad and the provinces witnessed a jump in dollar prices against the dinar during the past week, reaching 1507.5 dinars per dollar, the highest price recorded in years.   non14.net

butterfly   15:15 – 10/06/2021   Al-Fath - The Central Bank is only good at pumping more hard currency in favor of the corruption mafias Information / Baghdad.

Today, Thursday, the Al-Fateh Alliance considered silence about the deterioration of the dinar a betrayal of the Iraqi people

A member of the coalition, Muhammad al-Moussawi, said in a tweet on “Twitter”, that “despite the rise in global oil prices and the increase in the country’s revenues from hard currency, the Iraqi dinar is declining daily against foreign currencies.”

He added, “The Central Bank is only able to pump more hard currency for the benefit of the banking owners and the banks of the corruption mafias,” noting that “the stranger, the House of Representatives, which gave legitimacy to raising the exchange rate is mired in sleep and its political blocs, leaving the people struggling with the rise in commodity prices and preoccupied with their alliances.” The electoral process is far from the higher interests of the looted people.”

He pointed out that “the honorable deputies should request an emergency session of the Council to bear its exclusive responsibility for the financial policy of the Central Bank in accordance with the Constitution, Article (103).” Ended / 25 R   almaalomah.org

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