Our futures are currently red DOW 1.33% SNP .92% NDX .43%
UK markets are currently trading in the red 1 to 2 %
Asian markets closed down NIK 1.97% HSI 2.20% SHANG .90%
PRecious MEtals:
Gold is red at 1678 Silver is red at 15.23 Copper is red at 228 Platinum is red at 751
Brent is 21 per bloomberg
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1166.9000 |  1222.1000 | 1192.9000 | 1192.3000 | 1192.9000 | 0.4000 | 11:04 |
| USD/VND | 23441.0000 | 23444.0000 | 23431.8900 | 23431.8900 | 23431.8900 | 0.7100 | 01:30 |
| USD/CNY |  7.0715 | 7.0735 | 7.0726 | 7.0712 | 7.0723 | -0.0008 | 05:04 |
| USD/KWD | 0.3106 | 0.3116 | 0.3112 | 0.3107 | 0.3112 | -0.0004 | 04:58 |
| GBP/USD | 1.2334 | 1.2336 | 1.2446 | 1.2330 | 1.2432 | -0.0098 | 05:04 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 06:03 |
| USD/IDR | 15682.0000 | 15722.0000 | 15701.0000 | 15377.0000 | 15569.0000 | 111.0000 | 05:04 |
Things in the News:
Emergency room doctors facing pay cuts...
Iraqi Articles:
Brent prices are chasing American crude
Brent prices continued to collapse on Tuesday, tracking US crude prices.
At ten o'clock in Baghdad time, Brent prices for June delivery decreased by 12.05% to $ 22.43, to chase the historic decline in US crude.
On Monday, US crude oil futures prices turned negative for the first time in history to end the session at minus $ 37.63 a barrel as dealers sold heavily due to the rapid filling of storage facilities at the main delivery center in Cushing, Oklahoma.
Investors seem not to have been satisfied with OPEC + cuts of more than 10 million barrels per day, and demand fears persist against the backdrop of the continued closure imposed to prevent the spread of the Corona virus, which is also causing an economic downturn.
Parliamentary Finance: External borrowing is subject to approval by Parliament
The Parliamentary Finance Committee said on Tuesday that the government's approach to external borrowing needs the approval of the House of Representatives.
Member of the Committee, MP Ahmed Al-Saffar said in a statement reported by the official news agency "Waaa" and viewed by "Al-Iqtisad News", that "the government cannot resort to external borrowing without obtaining the approval of the House of Representatives," pointing out that "Parliament has already voted to prevent Borrowing from abroad until the old debts incurred by Iraq are paid.
He added that "foreign loans have a very high financial interest rate, especially since most loans are used for consumption and not for investment, which means that the government is unable to return them to pay them off."
He explained that "financial spending in the country reached a high level in the past month due to some measures taken by the government," noting that "salaries need about 3 and a half billion dollars a month, while sales of oil per month do not exceed two and a half billion dollars." .
He continued, "The government can resort to internal borrowing from banks and giant companies to meet financial expenditures in light of the current crisis," noting that "the superpowers in the period of crisis offer financial bonds with good interest rates to the market and then buy them again when the crisis ends."
Iraq cuts 75% of the electricity imported from Iran
The Ministry of Electricity reduced the amount of energy imported from Iran by 75 percent, as a result of achieving self-sufficiency in the production sector.
The semi-official newspaper, Al-Sabah, in its Tuesday edition, quoted a ministry spokesman, Ahmed Al-Abadi, as saying that the quantities of electrical energy produced from the stations currently cover the local need in a continuous supply, with the exception of Salahuddin and Nineveh provinces, which are equipped at a rate of 20 hours per day.
He explained that the increase in equipment is due to lower loads and the introduction of new obstetric units for service, in addition to moderate temperatures.
Al-Abadi noted that the ministry has other production capacities that can supply the system with it in the event of increased demand, indicating that the current production volume is estimated at 13,400 megawatts. He added that according to these data, the ministry has deliberately reduced the volume of energy supplied by the Iranian side via transmission lines, as well Importing the gas used to run the generation stations, as it was satisfied with the Mersad / Diyala electricity transmission line, which supplies the governorate with 350 megawatts, after the volume of electricity supplied from Iran reached 1,200 megawatts, transferred through four lines.
He added that the ministry has also reduced the quantities of imported gas supplied to production stations, as it stopped pumping towards the stations in the south, relying on the Ministry of Oil to provide this material, explaining that Iranian gas is currently being pumped with one line that feeds the stations Basmaya, Mansourieh, Jerusalem and Sadr gas.
Expert reveals the repercussions of the collapse of the US crude price on Iraq
The expert in the oil sector, Furat Al-Moussawi, said on Monday that the collapse of the American oil price will affect Brent crude and the Iraqi economy, noting that he will lose 400 thousand barrels per day of his oil exports to America.
After a stormy trading session, the price of a barrel of oil for May delivery listed on the New York market fell below zero, for the first time in history with the end of trading, which means that investors are willing to pay to get rid of crude.
Due to the expiry of the May contract period on Tuesday, dealers had to find buyers as soon as possible.
But with storage facilities in the United States drastically full in recent weeks, dealers have been forced to pay people to find buyers, causing West Texas Intermediate crude price to reach $ 37.63 below zero, with trading ending.
Moussaoui expert told Shafak News, "The decline in West Texas oil prices was due to futures contracts and also large production outside the agreed upon, in addition to America's resort to the idea of storage, which was unsuccessful."
He added that "the equation of oil prices needs time to return, especially because of the spread of the Corona virus, which is the main reason for the closure of the economy and the lack of demand for oil."
Moussawi said, "This decline will affect temporarily Brent crude, not like West Texas," noting that "this crisis will end when the May contracts for oil futures contracts expire."
Mousawi added, "Iraq will lose 400 thousand barrels of oil exports destined for America due to the collapse of West Texas oil prices."
CBI, ISX,Dinar Guru:
CBI Update: IT SEEMS the CLOSURES have BEEN Extended WE SHALL SEE
Click on the link above for the latest update.
The CBI for rate is.
The currency auction total sales amount $ 144,421,000. Auction held Tuesday April 21st, 2020
ISX Update: At my last checking
Failure to organize trading sessions 17 / 3-2020 / 3/23
it's a document in Arabic but these are the words
Iraq Stock Exchange Iraq market for ur number: Date: \ ۷/۱۹ / C To the Securities Commission What is the lack of organization of trading sessions 3/17 - 3/23/2020
We give you our best regards. . .
Based on the decisions of the Health Crisis Cell dated 3/15/2020.
The Board of Governors decided not to organize trading sessions and stop trading activity in securities as of Tuesday 3/17/2020 to enable brokerage firms and investors to complete financial settlements between them and the clearing bank until Monday. 3/23/2020 The trading session after suspension is organized on Tuesday 3/23/2020 according to instructions and rules with appreciation CURFEW EXTENDED to APRIL 23rd
Taha Ahmed Abdel Salam Duran Soran
Shares Traded: N/A
Value Traded: N/A
4-21-2020 Intel Guru Footforward Wow...Black monday? Referring to oil. [I'm no expert at all, but are we witnessing a flash crash?] I don't know for sure, but either way this puts pressure on Iraq.
4-20-2020 Newshound Guru Pimpy ...General price index of the Iraq Stock Exchange - all you're looking at is the average weighted performances of all the stocks listed on the ISX for Iraq. That's all it is. For me as a stockholder I love it because the more it increases in value the more valuable my stocks are... [Reference Guru Jeff's 4-20-2019 post below]
4-20-2020 Intel/Newshound Guru Frank26 Question "Is the RI arriving or is it approaching?" It's arrived and it is with the CBI. It was brought to the CBI by the fab Four and IMO by the pressure from the United States of America that has just recently been put on about a little over a month ago now. And it awaits a fully seated government that can present this new currency - this new rate for their economic crisis...the only reason the reinstatement has arrived at the CBI is because of what Donald Trump did recently...
4-20-2020 Newshound/Intel Guru tman23 their coffers were low and now running dry...by law operating on a past budget since their parliament can’t seem to get a quorum and function...so now paychecks will be rationed or simply cut off...they are in dire straights...they have nowhere to turn to borrow...Wells have dried up...Pun intended... so in past they complained about the costs of printing new money...so either they got it printed and ready and if they don’t...rut roe...but I believe they have plans to release before June...second semester of financial year they can change...But never in the middle or middle of a quarter... if anyone recalls when Shabibi was talking first of the year they always put the delay date to June.
4-20-2020 Intel Guru MarkZ ...I am hearing that it will be mid-May now for the roll-out...Banking contacts, of course still insist its tomorrow….but government sources now say mid-May...only 3 weeks away...at this point I would tend to believe my government contacts over my banking contacts...but they have to keep the bankers keyed up and ready for when it is time. I understand the reason for the misinformation...
4-20-2020 Newshound Guru Jeff ...something significant has happened on the CBI website...what does it mean to 'delete the zeros'? ...it does not mean removing or withdrawing from circulation. It's referring to deleting the zeros in the exchange rate. .00084 is the value of the US dollar against the dinar...if we took the zeros off the exchange rate it would become .84 ...overall I call this a rate change process and it's taking roughly 5 weeks. Why would it take so long? This was a multi-step process...[CBI website: General Price Index of ISX] Iraq Stock Exchange...transitioned from millions to billions...this new change structure was posted as of 4-13 of 2020...based on the math the dinar is currently about 80 cents range...General index means it gauges a change in purchase power against the value of whatever currency it's reference...
4-20-2020 Newshound Guru BobTheTaxMan ...the situation in Iraq is getting desperate. Oil prices are below $30 now, they are cutting all government employees income by half, and their government is scrambling to come up with an answer. While they can not broadcast anticipating a gain in their currency to the public, every indicator is they are seriously considering that option. (At least that would make the most sense.)
4-20-2020 Newshound Guru Pimpy In June the IMF, The World Bank, The United Nations and America are going to be meeting with the government and hopefully this new government of Iraq. The reason why to me this is interesting, these are all the key players, the big dogs, that need to decide on whether or not to remove the currency restriction that's on Iraq. Will they find that this government is stable? Will they feel confident in it? Will they remove the sanctions/restrictions on their currency and allow it to go ahead and be recognized internationally again? ...We need that to happen. I'm hoping it does because it's gonna bring a ton of speculator out of the woodwork to come and invest into this currency knowing that there is a ton of possible development in Iraq. So let's hope when they are recognized internationally that we see them immediately on the Forex trading at the rate we want to see them trading at...
4-20-2020 Intel/Newshound Guru Frank26 Question "Is the RI arriving or is it approaching?" It's arrived and it is with the CBI. It was brought to the CBI by the fab Four and IMO by the pressure from the United States of America that has just recently been put on about a little over a month ago now. And it awaits a fully seated government that can present this new currency - this new rate for their economic crisis...the only reason the reinstatement has arrived at the CBI is because of what Donald Trump did recently...
4-20-2020 Newshound/Intel Guru tman23 their coffers were low and now running dry...by law operating on a past budget since their parliament can’t seem to get a quorum and function...so now paychecks will be rationed or simply cut off...they are in dire straights...they have nowhere to turn to borrow...Wells have dried up...Pun intended... so in past they complained about the costs of printing new money...so either they got it printed and ready and if they don’t...rut roe...but I believe they have plans to release before June...second semester of financial year they can change...But never in the middle or middle of a quarter... if anyone recalls when Shabibi was talking first of the year they always put the delay date to June.
4-20-2020 Intel Guru MarkZ ...I am hearing that it will be mid-May now for the roll-out...Banking contacts, of course still insist its tomorrow….but government sources now say mid-May...only 3 weeks away...at this point I would tend to believe my government contacts over my banking contacts...but they have to keep the bankers keyed up and ready for when it is time. I understand the reason for the misinformation...
4-20-2020 Newshound Guru Jeff ...something significant has happened on the CBI website...what does it mean to 'delete the zeros'? ...it does not mean removing or withdrawing from circulation. It's referring to deleting the zeros in the exchange rate. .00084 is the value of the US dollar against the dinar...if we took the zeros off the exchange rate it would become .84 ...overall I call this a rate change process and it's taking roughly 5 weeks. Why would it take so long? This was a multi-step process...[CBI website: General Price Index of ISX] Iraq Stock Exchange...transitioned from millions to billions...this new change structure was posted as of 4-13 of 2020...based on the math the dinar is currently about 80 cents range...General index means it gauges a change in purchase power against the value of whatever currency it's reference...
4-20-2020 Newshound Guru BobTheTaxMan ...the situation in Iraq is getting desperate. Oil prices are below $30 now, they are cutting all government employees income by half, and their government is scrambling to come up with an answer. While they can not broadcast anticipating a gain in their currency to the public, every indicator is they are seriously considering that option. (At least that would make the most sense.)
4-20-2020 Newshound Guru Pimpy In June the IMF, The World Bank, The United Nations and America are going to be meeting with the government and hopefully this new government of Iraq. The reason why to me this is interesting, these are all the key players, the big dogs, that need to decide on whether or not to remove the currency restriction that's on Iraq. Will they find that this government is stable? Will they feel confident in it? Will they remove the sanctions/restrictions on their currency and allow it to go ahead and be recognized internationally again? ...We need that to happen. I'm hoping it does because it's gonna bring a ton of speculator out of the woodwork to come and invest into this currency knowing that there is a ton of possible development in Iraq. So let's hope when they are recognized internationally that we see them immediately on the Forex trading at the rate we want to see them trading at...
CAtnip's Corner:
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ARTICLE 1 (from PM Mahdi's website)
At the time this report was submitted, there are no new articles posted on PM Mahdi's website.
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ARTICLE 2 (from Government of Iraq twitter account)
At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter account.
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ARTICLE 3
Abu Kallal: Al-Kazemi’s government is the last chance .. He warns of efforts to threaten Iraq
20/4/2020 15:20
[Baghdad-where]
The leader of the National Wisdom Movement, Baligh Abu Kallal, the government of the Prime Minister-designate, Mustafa al-Kazemi is the last opportunity to replace the current government.
Abu Kallal said in a tweet on Twitter: "Maybe there are those who seek to maintain this government, but they do not realize the size of the great threat that threatens Iraq as a result of this behavior."
"Everyone will lose if we cannot form a new government, including those who seek to preserve the old one," he added.
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ARTICLE 4
Deputy for Al-Hikma: All candidates for ministerial portfolios are partisan
20/4/2020 19:31
[Baghdad-where]
On Monday, a deputy from Al-Hikma confirmed that all the candidates nominated by the political blocs of Al-Kazemi’s government are partisans, indicating that partisans from the second row were chosen to prevent the media hype that might affect them.
The representative of the Parliamentary Bloc, Asaad Al-Murshidi, said, "The assigned candidate, Mustafa Al-Kazimi, has not received any independent candidate for his cabinet cabinet from the political blocs."
He added that "all the names provided by the political blocs are partisan personalities," noting that "the blocs presented the names of partisan personalities from the second row to prevent media hype and stir up public opinion from the well-known names."
The State of Law coalition announced, today, Monday, the start of Al-Kazemi's candidate to interview the candidates for ministerial portfolios.
He added that "all the names provided by the political blocs are partisan personalities," noting that "the blocs presented the names of partisan personalities from the second row to prevent media hype and stir up public opinion from the well-known names."
The State of Law coalition announced, today, Monday, the start of Al-Kazemi's candidate to interview the candidates for ministerial portfolios.
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ARTICLE 5
Joint operations: a new strategy for ISIS by using media intimidation
20/4/2020 21:32
[Baghdad-where]
On Monday, the Joint Operations Command unveiled a new strategy for ISIS terrorist gangs by using media intimidation to raise the issue of their return again.
"The ISIS terrorist gangs are trying, through a new strategy, to create a kind of chaos by carrying out qualitative attacks against the security forces and using the media to intimidate and benefit from it," command spokesman Major General Tahsin al-Khafaji said in a press statement, noting that "ISIS gangs succeeded in 2014 using means The media, however, will not succeed at the present time and we are in control of all its movements. "
He added that "ISIS terrorist gangs will not return again and will not affect the national security of the country, and there are extensive security moves to follow up all terrorist movements," noting that "all ISIS operations are according to hit-and-run and have not reached the level of major operations."
And that "the work of the intelligence effort is accurate, very high, and has capabilities and a method by which it works against terrorist organizations to hunt and kill them with high professionalism."
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