Category: Dinar Daddy

Security forces, volunteers liberate area eastern Ramadi

Security source stated that the security forces and the volunteers liberated an area of eastern Ramadi.

The source stated to AIN “The security forces and the volunteers liberated Albu Nasir of eastern Ramadi after killing some ISIL terrorists and burning their vehicles.” /End/

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Speaker, US Ambassador review US-led coalition action in fighting IS militants

The parliament Speaker, Salim Al-Jubouri discussed with the US Ambassador for Iraq Stewart Jones, the political and security situation in Iraq and the action of the US-led coalition in fighting terrorism.

The speaker hosted the US Ambassador, Jones where they reviewed the latest developments on the political and security arena in addition to the role of the international coalition in fighting with terrorists. /End/

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Oil filed in 2014 at the lowest price in 5 years

Affected by the global oil markets in 2014 by various factors and pressures made the black gold prices at record high levels at the minimum in that the last has not recorded since 2009.

The price of oil began in 2014 at levels close to $ 94 US light crude and $ 107 for Brent, then the markets were affected by the seizure of protesters Libyan oil export ports in Libya, and a severe cold wave across the United States.

Oil prices at the beginning of 2014, received support from the aggravation of events in Libya
Continued oil prices at levels above that registered a significant increase in mid-June as a result of the continued fighting in Iraq and concern about disruption of oil supplies from the country, and Brent crude to its highest level in nine approaching months from the level of $ 115 a barrel on fears of The heavy fighting in Iraq against the “Islamic state” may reduce the supply of oil from the second-largest crude producer in the Organization of “OPEC”.

Oil prices in mid-June jump to higher levels after the control of state regulation on the Iraqi oil fields
Saudi Arabia is also rising shale oil production in North America led to the decline of oil price fluctuations and contributed to the preservation of Brent crude in the range 100 to $ 110 a barrel in the first half of 2014, and then welcomed the rising US shale oil production, for his contribution to the stability of crude prices , noting that there is nothing to worry about raw boom competitor, because the cost of production of oil shale remains much higher than the cost of production of the Middle East crude.

The Organization of Petroleum Exporting Countries “OPEC” is expected to face shrinking market share over the next five years, where the oil boom promotes energy supplies rock competition.

OPEC refuses to reduce production at its meeting in Vienna on November 27
Oil prices began to decline gradually, starting from the end of June 2014, that the Organization of Petroleum Exporting Countries “OPEC” in a historic meeting in Vienna, the end of the month of November decided to maintain the ceiling of oil production unchanged at 30 million barrels per day, After that disrupted the Gulf oil states, led by Saudi Arabia calls from other members less sang in “OPEC” to reduce production and stop the decline in oil prices, which reached more than a third since June last year.

The “OPEC” decision not to cut production to a sharp drop in oil prices has raised a storm in the financial markets with the decline in the currencies of black ore producing countries and oil companies, shares of the exchange rate.

A diagram of the movement of the price of Brent crude in the last seven months of 2014
Russia and suggested that oil prices return to a level of $ 85-90 per barrel in the medium term, pointing out that “OPEC” s decision not to cut production rates decision was expected.

Oil prices ended 2014 at record low levels in five and a half years, and ranged Brent crude at $ 57 a barrel, and reached US crude to a level close to $ 53 a barrel.

Polls suggested that oil prices rebound in the second half of 2015, with the possibility of slowing oil shale production in the United States at that time, which contributes to reducing the glut of supplies which have been exacerbated by the OPEC decision not to cut production organization.

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Forex – GBP/USD weekly outlook: January 5

Investing.com –

Investing.com – The pound sank to 17-month lows against the broadly stronger U.S. dollar on Friday after data showed that manufacturing growth in the U.K. unexpectedly slowed last month.

GBP/USD was down 1.61% to 1.5326 late Friday after a report showed that the Markit U.K. manufacturing index unexpectedly slid to a three-month low of 52.5 in December from 53.3 in November.

The data added to concerns that the rate of the economic recovery in the U.K. is moderating and underlined the diverging monetary policy stance between the Federal Reserve and other major central banks.

The U.S. dollar index, which measures the greenback against a basket of six major currencies, advanced 0.91% to nine-year peaks of 91.47 on Friday. The index rallied 12% in 2014, boosted by expectations that the Fed will raise interest rates in the coming year as the steady economic recovery in the U.S. continues.

Elsewhere, the dollar rose to four-and-a-half year highs against the euro and reached parity against the Swiss franc for the first time since December 2010 after remarks by European Central Bank President Mario Draghi fuelled expectations for full blown quantitative easing.

In an interview with German financial newspaper Handelsblatt Draghi said the risk of the ECB not fulfilling its mandate of price stability is higher now than six months ago, signaling that it is moving closer to implementing quantitative easing measures.

EUR/USD was down 0.85% to 1.2002 in late trade, the weakest level since early June 2010.

The single currency was also pressured lower after data showed that manufacturing activity in the euro area grew at a slower rate than initially estimated in December, adding to concerns over the outlook for fourth quarter growth.

USD/CHF was up 0.83% to 1.0014 in late trade as weakness in the euro added to pressure on the Swiss National Bank to defend its 1.20 per euro exchange rate floor.

Sterling was weaker against the euro, with EUR/GBP advancing 0.85% to 0.7830 late Friday.

In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday’s Federal Reserve meeting minutes will be also closely watched.

The U.K. is to release survey data on service and construction sector growth and the Bank of England is to announce its latest monetary policy decision on Thursday.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, January 5

The U.K. is to release data on construction sector activity.

Tuesday, January 6

The U.K. is to publish a report on service sector activity.

In the U.S., the Institute of Supply Management is to release data on non-manufacturing activity.

Wednesday, January 7

The U.S. is to release a report on ADP nonfarm payrolls, in addition to data on the trade balance. Later Wednesday, the Federal Reserve is to publish the minutes of its most recent meeting.

Thursday, January 8

The BoE is to announce its monetary policy decision.

The U.S. is to produce its weekly report on initial jobless claims.

Friday, January 9

The U.K. is to produce a report on industrial and manufacturing production, as well as data on the trade balance.

The U.S. is to round up the week with the closely watched nonfarm payrolls report, and data on wage growth.

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Forex – EUR/USD weekly outlook: January 5

Investing.com –

Investing.com – The euro fell to four-and-a-half year lows against the dollar on Friday after European Central Bank President Mario Draghi signaled that it would implement quantitative easing measures early this year.

EUR/USD was down 0.85% to 1.2002 in late trade, the weakest level since early June 2010.

In an interview with German financial newspaper Handelsblatt Draghi said the risk of the ECB not fulfilling its mandate of price stability is higher now than six months ago. The remarks indicated that the central will expand its asset-purchase program to include government debt in order to spur growth and inflation.

The annual rate of euro zone inflation was just 0.3% in November, well below the ECB’s target of close to but just below 2%.

The single currency was also pressured lower after data showed that manufacturing activity in the euro area grew at a slower rate than initially estimated in December, adding to concerns over the outlook for fourth quarter growth.

The dollar rose to parity against the Swiss franc for the first time since December 2010, as weakness in the euro added to pressure on the Swiss National Bank to defend its 1.20 per euro exchange rate floor. USD/CHF was up 0.83% to 1.0014 in late trade.

Switzerland’s central bank imposed the exchange rate floor in September 2011 to head off the threat of deflation and protect the country’s exporters from a rapidly rising currency.

The SNB eased monetary policy in December, when it imposed negative interest rates on commercial bank deposits, in a bid to prevent the continued appreciation of the Swiss franc against the euro.

EUR/CHF was almost unchanged at 1.2019 in late trade.

The U.S. dollar index, which measures the greenback against a basket of six major currencies, advanced 0.91% to nine-year peaks of 91.47. The index rallied 12% in 2014, boosted by the diverging policy outlook between the Federal Reserve and central banks in Europe and Japan.

In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday’s Federal Reserve meeting minutes will be also closely watched, while the euro zone is to publish preliminary data on consumer inflation.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Monday, January 5

In the euro zone, Germany is to publish preliminary data on consumer price inflation, while Spain is to report on the change in the number of people employed.

Tuesday, January 6

In the U.S., the Institute of Supply Management is to release data on non-manufacturing activity.

Wednesday, January 7

Germany is to publish data on retail sales, as well as a report on the change in the number of people employed. The euro zone is to release preliminary data on consumer inflation and a report on the unemployment rate.

The U.S. is to release a report on ADP nonfarm payrolls, in addition to data on the trade balance. Later Wednesday, the Federal Reserve is to publish the minutes of its most recent meeting.

Thursday, January 8

The euro zone is to publish a report on retail sales.

The U.S. is to produce its weekly report on initial jobless claims.

Friday, January 9

The U.S. is to round up the week with the closely watched nonfarm payrolls report, and data on wage growth.

Investing.com
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Chattels says things are happening.

Chattels [are you thinking we may be close?] UNLIKELY, I HAVE THOUGHT FOR SOME MONTHS NOW THAT I CANNOT FATHOM HOW A COUNTRY CAN BE STABLE, ECONOMICALLY OR POLITICALLY, WHEN AT LEAST 1/3 OF IT’S COUNTRYSIDE IS OCCUPIED BY A HOSTILE FORCE BUT POSSIBLE I SUPPOSE. I STILL HOPE, BUT THERE ARE FRANKLY MANY REASONS FOR OUR EVENT NOT TO OCCUR FOR SOME TIME AS YET…BUT IT IS THE BEGINNING OF A NEW YEAR AND THERE ARE THINGS HAPPENING I THINK THAT ARE NOT TRANSPARENT, SO…WE HOPE, BUT DO NOT EXPECT ANYTHING

 

Oil exports reach highest level since 1980

The Ministry of Oil announced that the amount of exported oil reached unprecedented levels for 35 years ago.

Spokesperson of the ministry said “The exports of oil during past December hit unprecedented level for 35 years ago, calling OPEC to act to fix the decline of oil price.”
According to the initial statistics of the oil exports in December, the daily exportation of oil reached 2.94 million barrel which is considered the highest since 1980, he added. /End/

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Gold / Silver / Copper futures – weekly outlook: January 5

Investing.com –

Investing.com – Gold futures ended slightly higher on Friday, as investors returned to the market to seek cheap valuations after prices hit a one-month low earlier in the session.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery tacked on $2.10, or 0.18%, to settle at $1,186.20 a troy ounce by close of trade. Prices hit $1,167.30 earlier in the day, the weakest level since December 1.

Despite Friday’s modest gains, gold declined $8.70, or 0.76%, on the week, the third consecutive weekly loss.

Futures were likely to find support at $1,141.70, the low from December 1, and resistance at $1,210.90, the high from December 30.

Also on the Comex, silver futures for March delivery rose 16.9 cents, or 1.08%, on Friday to settle the week at $15.76 a troy ounce by close of trade.

On the week, the March silver futures contract lost 32.0 cents, or 2.35%.

The US dollar index, which measures the greenback against a basket of six major currencies, advanced 0.91% to nine-year peaks of 91.47. The index rallied 12% in 2014, boosted by the diverging policy outlook between the Federal Reserve and central banks in Europe and Japan.

The euro fell to four-and-a-half year lows against the dollar on Friday after European Central Bank President Mario Draghi indicated that the likelihood of quantitative easing has increased.

Meanwhile, oil prices continued to tumble on Friday, to hit the lowest level since 2009, as investors piled on to their short positions in anticipation of lower prices in the new year amid concerns over a growing supply glut.

London-traded Brent prices declined 91 cents, or 1.59%, to close at $56.42 a barrel, while Nymex oil futures dropped 58 cents, or 1.09%, to end at $52.69, a level not seen since May 2009.

In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday’s Federal Reserve meeting minutes will be also closely watched.

Gold lost 1.67% in 2014 amid indications a strengthening U.S. economic recovery will force the Fed to start raising interest rates sooner and faster than previously thought.

Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.

Elsewhere in metals trading, copper for March delivery shed 0.8 cents, or 0.28%, on Friday to settle at $2.817 a pound, as a broadly stronger U.S. dollar and weaker oil prices weighed.

Despite Friday’s small decline, Comex copper inched up 0.3 cents, or 0.11%, on the week.

The red metal lost nearly 18% in 2014 as concerns over the global economic outlook and the impact on future copper demand prospects dampened the appeal of the commodity.

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Allawi Meets Lebanese Mufti

BAGHDAD / NINA / Vice President, Iyad Allawi met in Beirut Lebanese Mufti Sheikh Abdul Latif Derian.

The Website of the Lebanese Fatwa House quoted Allawi as saying, during the meeting, we talked about the dangers and risks in the region and we found that the Mufti has positive perceptions of what should happen, whether at the Arab level or on the Islamic level.”

Allawi stressed his support for Sheikh Derian to resist sectarian strife and confirm and consolidate Arabism, indicating that the Mufti also supported the ideas that he put forward in regard to a leading Arabic Conference puts points on the characters as a prelude to strengthen this region and vaccinated and building its safety and the safety of its people and their well-being.

It is mentioned that Vice President Iyad Allawi arrived in Lebanon in 28, Dec, accompanied by a number of MPs, officials and politicians and he met the Lebanese prime ministers, Tammam Salam, Parliament Speaker Nabih Berri as well as Vice President of Higher Islamic Shiite Council Sheikh Abdul Amir Qabalan.

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Hamoudi expresses to Bahraini ambassador, Iraq’s concern for the arrest of cleric Ali Salman

BAGHDAD / Nina /–Member of the Presidency of the Council of Representatives, Sheikh Humam Hamoudi informed Bahraini ambassador to Baghdad, Salah al-Maliki “Iraq’s extreme concern about wath he described ” dangerous development in Bahrain which is represented by the arrest of the head of the Islamic National Accord Association, Sheikh Ali Salman by Bahraini security forces .

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