HowieC Posted January 19, 2022 Report Share Posted January 19, 2022 Economist: The Recovery Of Oil Prices Is A Justification For Restoring The Dollar Exchange Rate ECONOMIC 01/19/ 2022 | 11:01 AM The Information/Baghdad... The economic expert, Nabil Jabbar Al-Ali, expected, on Wednesday, a jump in oil prices in the coming days, after stabilizing the threshold of 75 dollars, stressing that the recovery of oil prices is a justification to reconsider the exchange rate of the dollar. Al-Ali said in a statement to “The Information” that “the dollar’s exchange rate depends on a fixed price policy that is not linked to the global economy,” noting that “the duty of pure monetary policy is to maintain stability and try to stimulate economic indicators within the country through per capita income, as well as the poverty rate and the indicator the prices". He added, "The Central Bank is primarily responsible for monetary policy in partnership with the Ministry of Finance, as well as the Ministry of Planning and the Economic Councils, and they must reconsider the dollar exchange rate, especially since this change came based on the requirements of the government's deficit in the year 2020." Al-Ali pointed out that “the current government is currently facing an economic well-being that may rise in oil prices in the coming days,” stressing “the need to invest the surplus from oil revenues in economic projects.” finished / 25 h https://almaalomah.me/2022/01/19/577421/ 11 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted January 19, 2022 Report Share Posted January 19, 2022 there is no doubt higher barrel price and higher exchange rate is key!!! 3 Quote Link to comment Share on other sites More sharing options...
ronscarpa Posted January 20, 2022 Report Share Posted January 20, 2022 (edited) 22 hours ago, HowieC said: "The Central Bank is primarily responsible for monetary policy in partnership with the Ministry of Finance, as well as the Ministry of Planning and the Economic Councils, and they must reconsider the dollar exchange rate, especially since this change came based on the requirements of the government's deficit in the year 2020." It would be great if they would at least move the exchange rate back to 1170 as a "first step" in increasing the value of the IQD. Edited January 20, 2022 by ronscarpa 2 6 Quote Link to comment Share on other sites More sharing options...
HowieC Posted January 20, 2022 Author Report Share Posted January 20, 2022 3 hours ago, ronscarpa said: It would be great if they would at least move the exchange rate back to 1170 as a "first step" in increasing the value of the IQD. On it's way to 1.17.... perfect 6 1 Quote Link to comment Share on other sites More sharing options...
Engine1 Posted January 20, 2022 Report Share Posted January 20, 2022 22 hours ago, screwball said: there is no doubt higher barrel price and higher exchange rate is key!!! Seen barrels of oil at high prices, and no high dinar price what makes this any different Quote Link to comment Share on other sites More sharing options...
Dinar4Dinner Posted January 20, 2022 Report Share Posted January 20, 2022 Oil could break the stock market’s back if crude ‘goes parabolic’ — How to prepare https://apple.news/AtIaM_6ywQtiS8kOC77l8_Q Oil futures are trading at seven-year highs, adding to jitters around a teetering stock market, and investors should be prepared for the possibility of a further surge to the upside, one chart watcher warned on Wednesday. “Oil could be what breaks the market’s back if it goes parabolic here. Watch out, but also make sure you have exposure to oil in case it does happen,” wrote technical analyst Andrew Adams in a note for Saut Strategy. West Texas Intermediate crude, the U.S. benchmark, has blown through price resistance levels that Adams said he had previously expected to give it some trouble. “When resistance is completely ignored, there’s usually a good chance an asset is going higher, but now there is a heavier resistance area around $85 where it stalled out late last year before dropping more than $20,” Adams said. “Above there, I don’t see much resistance at all until closer to $95 and by that time we could see some real fear about oil prices weighing on consumers that are already dealing with higher prices everywhere else. “Higher oil prices should continue to help the oil companies, but it also raises costs on many other industries and could further harm margins,” he wrote. WTI pushed well above the $85 level in Wednesday’s session. The front-month February contract CL.1 CLG22 rose 1.8% to close at $86.96. on the New York Mercantile Exchange, its highest close since Oct. 8, 2014. See: Oil builds on its highest price in more than 7 years as supply worries persist March Brent crude BRN00 BRNH22, the global benchmark, closed at $88.44 a barrel, a gain of 1.1%, on ICE Futures Europe, for its highest settlement since Oct. 13, 2014. WTI is up nearly 16% so far in the new year, while Brent has rallied 13.7%. Stocks, meanwhile, have stumbled to begin the new year as Treasury yields have surged, a move attributed largely to expectations the Federal Reserve will be much more aggressive than previously expected in raising interest rates and otherwise tightening monetary policy this year. In One Chart: Stock-market warning signal: Here’s what surging bond yields say about S&P 500 returns in next 6 months Treasury yields stabilized on Wednesday, but stocks remained under pressure, with the tech-heavy Nasdaq Composite COMP entering correction territory, defined as a drop of 10% from a recent peak. The Nasdaq is down 8.3% since the turn of the year, while the Dow Jones Industrial Average DJIA has dropped 3.6% and the S&P 500 SPX is down 2.8%. Read: The Nasdaq Composite just logged its 66th correction since 1971—here’s what history says happens next in the stock market Energy, however, has remained a bright spot in equities, with the sector up more than 16% so far in the new year and one of only two of the S&P 500’s 11 sectors, alongside financials (up 0.4%) in positive territory. Oil stocks are taking a cue from crude, poised to either break out and continue the rally or take a break, Adams said. The SPDR S&P Oil & Gas Exploration & Production exchange-traded fund XOP is up 12.6% in the month to date, but fell 1.1% on Wednesday. XOP is off to a great start to the year and its “big picture” chart is positive. But it’s trading at its upper volatility band and near where it ran into resistance a couple months ago — a “critical spot,” he said (see chart below). “It’s hard for me to suggest going heavy on it and oil stocks in general here at such an uncertain point, but I continue to think pullbacks in this group are for buying and oil stocks continue to be the best source of alpha in this market,” Adams wrote. 1 Quote Link to comment Share on other sites More sharing options...
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