WOTS TUE NOV 3 2020
The price of buying and selling the dollar stabilized on a high in the Iraqi market today, Tuesday.
The Iraqi Economic Center said in a statement, that "the selling price of the dollar is 125,500, while the purchase price is 124,500", indicating that "the price of the euro: 100 euros compared to 116,55 dollars."
He added, "The price of the sterling: 100 pounds per 129.25 dollars, while the price of the Turkish lira: 100 dollars per 844.10 Turkish liras," indicating that "the price of an ounce of gold worldwide is $ 1891.80."
The statement pointed out that "the price of a barrel of crude oil is $ 39.06, while the price of a barrel of US crude oil is $ 36.94."
THe Markets:
Asian markets closed up NIIK 1.39% HSI 1.96% SHANG 1.42%
The UK markets are trading in the green from 1.11% to 1.90%
Our futures are trading in the green DOW at 27191 up by 1.47% SNP at 3339 up by 1.18% NDX at 11132 up by .62%
Precious Metals:
Gold is green at 1899 Silver is green at 24.27 Copper is green at 309 Platinum is green at 876
Brent 37 WTi 35
Things in the News:
Iraqi Articles:
Parliamentary Finance: The government intends not to send the 2021 budget to Parliament
link
The Parliamentary Finance Committee revealed, on Tuesday, the government's intention not to send the 2021 budget and run it depending on loans, stressing that the committee will prevent the passage of this project.
A member of the Finance Committee, Jamal Cougar, said in a press interview, "The Easy Loan and Aid Law indicates that the Kazemi government does not intend to send any budget for the year 2021."
He added that "Al-Kazemi is trying to run next year by relying on loans," noting that "the Finance Committee will vote on the borrowing law within two weeks according to the actual need and not the numbers requested by the government."
"The committee will prevent the passage of next year without a budget, and it will not allow two years to pass without a budget," Cougar said
In pictures, the governor of the Central Bank visits exchange companies and promises to study their proposals
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Today, Tuesday morning, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, conducted a field visit that included a number of brokerage firms buying and selling foreign currencies on both Karkh and Rusafa sides in Baghdad.
A statement of the bank’s media, a copy of which was received by the Al Furat News Agency, stated that "the governor had a committee specialized in auditing companies from the banking supervision department at the central bank."
He informed Makhaif "on the functioning of these companies and their dealings with the beneficiaries of the citizens. I also listened to the notes and suggestions of the owners of the companies and promised to study them by the bank and activate their outputs, which would positively affect the work of the Iraqi financial and economic sector."
The statement pointed out that "this visit comes from his keenness to see first-hand the actual reality of the work of these companies in order to develop the services provided by them."
Iraq is preparing to receive donor countries next week
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The General Secretariat of the Council of Ministers announced that the ninth of this month will witness the presence of donor countries to support and finance projects in the liberated areas, while the United Nations Development Program said that it “carried out hundreds of service and humanitarian projects in the liberated governorates, and we are continuing to rehabilitate and implement projects in the liberated governorates. He referred to “implementing 271 service and humanitarian projects in Salah al-Din governorate and rehabilitating 20 thousand residential homes in Anbar Governorate.” The United Nations Development Program also announced the implementation of “1754 service projects in Nineveh Governorate.”
Oil prices continue to rise ahead of the US elections
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Oil prices continued to rise on US election day amid a recovery in financial markets on Tuesday, but fears of a spike in coronavirus cases around the world limited further gains.
European countries are witnessing the spread of Corona virus with the entry of the winter season into them, which led most countries to ban some sectors, especially restaurants and entertainment.Brent crude futures were up 70 cents, or 1.8%, at $ 39.67 a barrel at 09:15 GMT, while U.S. West Texas Intermediate (WTI) futures rose 78 cents, or 2.1%, to $ 37.59 a barrel. Both benchmarks met nearly 3% on Monday.Standard prices, which fell sharply over the past week, saw a brief respite on Monday after the Russian oil minister held talks with local oil companies about a possible extension of oil production restrictions to the first quarter of 2021.
The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, called OPEC +, cut oil production from May to support prices and cut the cut to 7.7 million barrels per day in August. They are set to ease the cuts by 2 million bpd in January.
One of the reasons for OPEC + concerns is the rise in production from Libya, which is on track to reach one million barrels per day in the coming weeks, from only 100,000 barrels per day in early September.
CBI Update: Just a note:
They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
Click on the link above for the latest update.
The CBI for rate is 1190.
The currency auction total sales amount $ 178,250,000.
including $ 14,750,000. CASH
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
https://www.dinarguru.com/11-3-2020 Intel Guru Footforward [So looks like [Guru] Frank is saying he looks for the rate to be at least $3.86 not to bad and it could go up from there.] That 3.86 is not a new figure from him either. That's in a range I believe is very possible in my opinion.
11-2-2020 Newshound Guru Pimpy Something is going on and I can't quite put my finger on it...over the last two weeks or so I'm paying attention to what's going on with currencies. On the back side of things there's a lot of talk. There's always a lot of talk. What gets me is this. There is a lot of movement involved in the IQD...there is a lot a lot of movement between countries and central banks...that's probably an understatement. There's a LARGE amounts of IQD being moved around. We're not exactly sure what's going on and I don't want to jump to conclusions but whatever this event is that's happening, Whatever people are getting prepared for...the IQD seems to be playing a pretty damn big role in whatever this is...nobody has been able to figure out exactly what the hell is going on with the IQD and why these central banks and other entities are making such a huge move on the currency. For a currency that supposedly has no value...
11-2-2020 Intel Guru MarkZ [via PDK] What a time to be alive. Buckle up everyone. Looks like a crazy week ahead! Hearing some interesting stuff…I think we are stinking close according to what we are being told and what we are hearing from world news, events, countries, treasuries, Central banks talking about the reset... [How close is “Close”] Mr. C [Guru Mike Cottrell] is saying anywhere from Nov. 4th to Dec. 31st…most of the chatter I hear points to the next 2 weeks or so.
11-2-2020 Intel Guru Delta Article: "The Central Bank opens an account with Euroclear to develop the performance of foreign reserves" Quote: "This step is important in the work of the Central Bank of Iraq, as it simulates international practices in the process of investing foreign reserves..." AWESOME NEWS... AMAZING...CBI GETTING READY TO GO INTERNATIONAL AND OPEN MARKET ECONOMY...
11-2-2020 Newshound Guru MilitiaMan Article: "Finance Minister: The salaries of the employees will be paid within two or three weeks" Quote: "He pointed out that the salaries of employees for the month of last October will be paid, perhaps within two or three weeks, in the event that the borrowing law is not approved, but in the event of voting on it, it will be launched directly." There you have it. They are confirming that the salaries have a time frame to be paid. It all hinges on the rate at which to pay them, imo. Take note that they are saying that if the borrowing law is passed they will be paid directly. If not and it is not passed they have an auto pay scenario of within two to three weeks. ...they have given us a time frame. There words not mine.. Huge...The rate has to be exposed to vote on the law and then that can pay the salaries, in that order. imo.
11-2-2020 Intel Guru MarkZ [via PDK] Still hearing positive things from the Iraq side. I am told there are one or two key things they would like to pass in preparation …rubber stamp things…I do have a couple bankers who told me they have been asked to return to be in place on Thursday of this week. Hoping that gives us a “timing” idea. They do not have an international rate out yet…nothing has changed…yet. I have that from a contact in Iraq 45 minutes ago [Monday morning].
11-2-2020 Newshound Guru Kaperoni ...the central bank has to follow strict monetary policies. Any growth of the Iraqi dinar will be based on the success of Iraq's economy.
11-2-2020 Austin-Powers-For-PM Article: "A Source Confirms: The Continuation Of The Suspension Of Employee Salaries For 10 Months" Quote: "An official source in the Ministry of Finance stated, on Sunday, that instructions were issued not to disburse any check for salaries of state departments." Bingo! We have finally hit the Schwerpunkt of this whole process. They are forcing action instead of promising that the salaries will be "Next week." The article basically was telling the citizens "You ain't getting paid." Nobody in their right mind would put that article out under normal circumstances. It would lead to rioting. It also broke a pattern, which means it needs to be replaced with another pattern. They are telling the citizens, in an indirect way, they are going to get paid electronically and that everything is about to change. There is no going back.
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website)
At the time this report was submitted, there are no new articles posted on PM Kadhimi's website.
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ARTICLE 2 (from Government of Iraq twitter account)
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ARTICLE 3
Parliament calls for merging three ministries into one economic body
02/11/2020 14:49 •
[Baghdad-Where]
The Parliamentary Economic and Investment Committee demanded, on Monday, to merge the ministries of trade, industry and agriculture into one economic authority.
Member of the Deputy Committee, Nada Shaker Jawdat, said, "The ministries of commerce, industry and agriculture are suspended ministries," indicating that "these ministries are supposed to finance the Iraqi budget."
And she continued, "If these ministries are not able to finance the budget, they must be merged into a single economic body that includes industry, agriculture and trade, and is managed by this body instead of the large sums that are spent on these ministries and without interest with the presence of these huge cadres in them."
Jawdat added that "the Ministry of Commerce and its main function is to provide the ration card items to citizens, but it has not distributed these items for more than five months, and during the current year it has only distributed twice of these ration items."
Iraq suffers from a stifling financial crisis as a result of the drop in oil prices on which the Iraqi budget depends by more than 90%, which found itself unable to meet even the salaries of employees in state departments.
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ARTICLE 4
A deputy is likely to hold a parliament session next Thursday and reveals the most prominent laws
02/11/2020 19:58 •
[Baghdad-Where]
MP for the Al-Fateh Alliance, Ahmed Al-Kinani, suggested that the new parliament session will be held next Thursday, while revealing the most prominent laws that will be included in the meeting's agenda.
Al-Kinani said, "The new parliament session may be held next Thursday," noting that "the session's agenda will include the laws of the Federal Court and financing the financial deficit."
He added that "the law on financing the fiscal deficit and the Federal Court are two of the most important priorities for the next session of the House of Representatives," indicating that "the session will be devoted to the second reading of the law on financing the fiscal deficit submitted by the government to the House of Representatives."
The Parliamentary Finance Committee confirmed, on Monday, that the government is concerned with disbursing the salaries of employees and not the Parliament, while indicating that Parliament will vote on the borrowing law to pass salaries and medicine only.
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ARTICLE 5
NATO is likely to extend the stay in Iraq for an additional five years
02/11/2020 21:32 •
[Baghdad_Where]
NATO announced that it might stay for another 5 years in Iraq until the security reform program is activated. According to news sites
The Secretary of the North Atlantic Treaty Organization (NATO), Jens Stoltenberg, announced the discussion of expanding NATO's missions in Iraq.
"The meeting dealt with the topic of expanding NATO's training mission in Iraq," Stoltenberg said in a press conference Friday, at the conclusion of the meeting of NATO defense ministers in Brussels, which took two days.
He added, "The alliance is helping Iraq build an army capable of fighting terrorism on its own, and that the alliance aims to enhance stability in Iraq and completely eliminate ISIS."
Stoltenberg explained, "NATO ministers have assigned their soldiers to expand the mission of training in Iraq, and we will continue consultations with the international coalition and the Iraqi authorities on how to proceed with that."
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